40% of Car Shoppers Willing to Pay $5000 over MSRP for a New Car

[DanCar]

40% of Car Shoppers Willing to Pay $5000 over MSRP for a New Car

Cox Automotive study finds that people know cars are in short supply right now, and in addition to those willing to overpay, a third of buyers are just going to wait.

www.caranddriver.com

• Over a third of shoppers looking now say they’d wait to buy, given the high prices, and a quarter of those people say they'll buy used instead.

A report in April showed prices were around 4 percent higher than a year before, ...
Cox Automotive released a study this week showing just how receptive buyers are to higher prices. Forty percent, Cox found, would not shy away from being charged a 12 percent premium. Given that the average new-car MSRP in the U.S. is almost $42,000, that means four in 10 people would accept a price that’s $5000 more than what the sticker says.

Despite the higher expected prices, only 37 percent said they’d wait to buy a vehicle, with 70 percent of those saying they’ll wait at least three months to purchase and 23 percent saying they’ll look at used vehicles, instead.
...
research shows nearly 40 percent of buyers who were considered 'in market' for a vehicle are now dropping out or deciding to delay their purchase.
...
According to iSeeCars, the fastest-selling cars in the U.S. last month were the Chevrolet Corvette (average price $87,390), the Jeep Wrangler 4xe ($57,161), and the Kia Telluride ($44,723). Fastest-selling means these vehicles spent the shortest time waiting on dealer lots for someone to take them home.

U.S. New-Vehicle Shoppers Expect Limited Choices, High Prices - Cox Automotive Inc.

ATLANTA, May 11, 2021 – New consumer research conducted by Kelley Blue Book indicates consumers in-market for a new automobile are expecting to be greeted by limited choices and high prices. The research, which involved surveying consumers during the final full week of April, found that three...

www.coxautoinc.com

 

[duger00]

yea that's nuts, currently looking for a new rav4 for my dad.