Car prices at record highs - and rising

Started by waterzap, April 04, 2012, 01:29:34 PM

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waterzap

http://money.cnn.com/2012/04/04/autos/car-prices/index.htm?iid=HP_LN

TrueCar estimates the price of a typical car or light truck reached a record high of $30,748 in March, up nearly $2,000, or 7%, from a year earlier.

Can probably buy a pristine old Caddy for half that price, and have LOTS left for repairs.
Charlotte, NC
-1978 Eldorado Coupe

Eric DeVirgilis CLC# 8621

Used car prices are at records levels as well. Supply cannot seem to keep up with worldwide demand for iron-on-wheels. In retrospect, it probably wasn't such a good idea for GM to have undergone the massive downsizing it did. Earthquake in Japan didn't help matters, nor that idiotic "cash for clunkers" program. 
A Cadillac Motorcar is a Possession for which there is no Acceptable Substitute

StevenTuck

#2
This is an interesting topic but CNN only tells the reader what they have been told. They also pick and choose the juicy parts to sensationalize.

One must remember that the figures of vehicles sold are based on what the manurfacturer claims are sold. These figures are based on vehicles delivered to dealerships, not necessarily what dealerships actually sell. Dealerships are required to meet a certain delivery quota to maintain their contract with the manuracturer. Whether they sell these and when is questionable. I have read time and time again from people like you and I, that dealers lots are full. If they are selling all these cars or trucks then why are their lots always full.

I don't personally put a lot of merit in CNN stories. They are massaged messages to paint a picture that the manufacturer wants the public to believe. Wait several more months as the price of gas kicks in. We will see this all change. We are headed for a repeat of 2008.
1962 Cadillac Eldorado Biarritz
http://bit.ly/1NfPNHE
Car Show Signs and Car Photo Books
http://carshowsigns.net/

Eric DeVirgilis CLC# 8621

#3
It sure appears to be a repeat of 2008, sans the collapse of the housing market which continues to have ripple effects. Crude oil prices continue to be driven by speculation of a major disruption of supply which has not yet occurred- and may never.
Unfortunately there are also many other factors at work contributing to the situation, many of which are directly due to governmental interferance- but that's another story.

Would be nice to see the fuel prices crash again, just as they did in the fall of 2008.

I have no idea whether CNN's data of new car sales is based on actual registrations or by dealer acquisition. 
A Cadillac Motorcar is a Possession for which there is no Acceptable Substitute

Chris Conklin

I have to say that to me the prices on collector cars has been surprising. I would have thought that all the negative economic effects would still be holding things down. The auctions are enjoying pretty good sell-through and higher prices (the sell-through being most telling, @ 90%).
Chris Conklin

R Schroeder

Heck, I remember when you could buy a fully loaded Chevy for 3 grand. Back then they were record highs..ha. Its all relative.

gary griffin

I remember new Chevs and Fords in the 1500 range and 2000 would buy a deluxe car. First year Thunder Birds were not selling and they went down to the 1500 range just to clear them off of the show room floor.

I don't know much about 50's Cadillacs as we were blue dollar family and could not even consider them
Gary Griffin

1940 LaSalle 5029 4 door convertible sedan
1942 Cadillac 6719 restoration almost complete?
1957 Cadillac 60-special (Needs a little TLC)
2013 Cadillac XTS daily driver

Glen

Sounds great but remember wages were also low.  $3000 per year was a very good wage. 
Glen Houlton CLC #727 
CLCMRC benefactor #104

R Sotardi #11719

I too have noticed that the price of old cars has gone up. My '50  6219, according to NADA is up 4K from March of 2010(20%) and Model A Fords way up nearly 30%, but so are used cars. Probably due to the fact that folks still need transportation and must replace their old( or totaled) daily driver, however the free disposable cash is down for most wage earners. Since they can not afford a big down payment or qualify for a cash back incentive, the average Joe( or Jane) must resort to a less expensive used car, and with it the higher loan rates. This makes the demand high and supply low for good late model used cars.  I just purchased a 2012 Malibu LT for only $3000 more than a 15,000 mile 2011. Also 2013 prices are out... 10% higher. Ron

waterzap

Another article today.

http://www.thetruthaboutcars.com/2012/04/sell-your-car-now-or-forever-keep-the-piece/

And some people are saying they really are getting more for their cars than they expected.
Charlotte, NC
-1978 Eldorado Coupe