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AUTO NEWS – Newest Information Suggests New Automotive Costs Will not Drop Till 2023

Newest Information Suggests New Automotive Costs Will not Drop Till 2023

– by Automobilnews.eu


The typical value for a brand new car in September 2022 was $45,622, a rise of $3,462 in comparison with September 2021. This was the fourth-highest value of all months on document.

“We estimate that half of the rise in new car costs pertains to the passing alongside of upper enter prices, together with uncooked materials prices,” stated Ryan Brinkman, Lead Automotive Fairness Analysis Analyst at J.P. Morgan. The info exhibits that uncooked materials costs hit an all-time excessive final 12 months with a 116% year-on-year improve. Not solely did chip costs skyrocket, however the price of important battery metals like lithium, nickel, and cobalt additionally shot by means of the roof.

After all, excessive new automobile costs resulted in excessive used automobile costs, the latter up by 42.5% in September 2022 in comparison with February 2020. “Used car costs and new car costs exist in a form of suggestions loop,” stated Brinkman.



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AUTO NEWS – Newest Information Suggests New Automotive Costs Will not Drop Till 2023
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