Recent Automotive Discounts: Buyers Paying Below Sticker Price Again

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After a 15-month span when automobile buyers were routinely paying above the sticker price for brand new vehicles, auto shoppers are finally seeing discounts on the dealership. The issue is that buyers are paying higher prices anyway.

For the month of December, the common discount on a brand new vehicle purchase was $293, in keeping with data from Edmunds, an automotive research firm. The typical discount per latest automobile was $15 in November, which was the primary month since July 2021 when the common transaction price was lower than the common MSRP (manufacturer’s suggested retail price).

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Why it means for you

Recent cars aren’t getting cheaper — in truth, prices are at a record high — but fewer buyers are encountering the unpleasant surprise that they need to pay above the sticker price for a brand new set of wheels.

The frenzy for brand new cars is calming down because supply chain problems have eased while high prices and high auto loan rates of interest are putting downward pressure on demand.

  • Recent vehicle inventory was at about 1.1 million units in December 2021, in comparison with 1.8 million at the top of last month, in keeping with Cox Automotive.
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Remember

Much of the explanation why latest vehicles at the moment are selling below MSRP is that manufacturers have set higher sticker prices (hello, inflation). The typical MSRP has increased by greater than $2,000 in only the past two months with the arrival of 2023 model yr cars, in keeping with Edmunds.

  • In December, the common MSRP for a brand new vehicle was $48,809, up greater than $7,000 since December 2019.
  • Edmunds reports that the common transaction price for a brand new vehicle reached a record high of $48,516 last month, a rise of nearly $10,000 from December 2019.

Bottom line

There’s more opportunity for automobile buyers to seek out discounts in today’s market, but those discounts are being applied to vehicles with MSRPs which can be higher than ever before.

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