It was not difficult to buy a new or used car in the United States of America, as is the case today, despite the improvement in supply problems and inflation that has begun to stabilize, as the worst times to buy a car in decades are recorded, according to the network.CNN“, Sunday.
Car prices increased “higher and faster beginning in 2020 than at any time in 35 years, according to recent data from the Bureau of Labor Statistics.”
New and used car price indices appeared much higher than they were four years ago in 2019, and new and used car prices have not risen so much, and so quickly, in decades, and the used car market in general is considered more volatile than the new car market.
There is a silver lining, however. Census Bureau data shows that inflation in used cars has slowed significantly since December 2022 and increased in the months leading up to that. But used cars still have a long way to go before they approach 2019 sales prices, and new car prices have not slow down yet.”
The average new car price has jumped regarding $12,000 in the past five years, according to data from automotive website Edmunds.com. For used cars, the average price is still regarding $9,000 higher than it was in February 2018.
The average price of a new car is now regarding $48,000. Just five years ago, the average cost of a new car was only $36,000. Car buyers haven’t seen such spikes since the 1970s and 1980s.
Prices began to rise in 2020, as a result of many reasons, including the stopping of factories due to the Corona epidemic, and there were problems in supply chains and digital processors necessary in the automotive industry, in addition to the high costs of shipping and materials and the rise in oil prices.
