7:57 am May 7, 2012, by David Markiewicz
$30,000 for a new car or light truck.
Wonder who would have believed that years ago.
That was the average price (actually $30,303) in April, however, according to research from forecaster TrueCar.com, The Wall Street Journal reported.
(That figure excludes the average $2,446 incentive from dealers).
Just a year ago, the average price was $1,219 less.
On the bright side, the cost of a new set of wheels in April actually was down $445 or 1.4 percent from March.
Still, automakers have to be thrilled. Not long ago it seemed they would have to give away their product.
Now, the rising cost isn’t even hurting sales. An annualized 14.4 million light vehicles were sold last month, up 10 percent from the year-earlier period.
And don’t think it’s any better buying used.
“Experienced” vehicles cost more, too. The Journal report suggests that’s the result of the lack of quality used rides available. Consumers slowed their purchases of new vehicles during the economic downturn, and the cars and trucks they would have turned back to the market aren’t there now, limiting the supply.
That pent-up demand from the time when people stopped buying is helping drive the sales gains of new cars.
The rising price of used cars also is prompting some shoppers to think new, not used.
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