According to CNW Research, automakers and dealers are seeing the highest transaction prices in 15 years for vehicles sold in the United States, due to high demand and a shrinking supply of new vehicles. The figures are based on early April sales where new cars and trucks sold at 87 percent of MSRP, the highest since 1996.
“Dealers are the primary beneficiary of these dwindling discounts since they are using fewer of their own dollars to close a deal than was necessary just a few years ago,” CNW said.
Also in early April, discounts of 13 percent are down from 23 percent under MSRP in 2009 when the U.S> auto industry sales hit a 27-year low.
Why is this happening? New cars and trucks are becoming more scarce due to auto parts supply issues related to the Japan earthquake and tsunami crisis.
– By: Omar Rana
Source: Automotive News