New car prices remain high, as deals diminish

Watch New car prices remain high, as deals diminish - Straight Arrow News on Dailymotion

Transcript

00:00We've all seen the TV ads for end-of-the-year closeouts at car dealerships,

00:04or the booming voice that proclaims best prices of the year.

00:08But this year, that may not be the case, as those apparent deals are harder to find.

00:16Analysts say the cost of buying a new car remains high heading into the final few months of 2025.

00:22Autotrader reports the average price for a new car in August was 2.6% higher this year than in 2024.

00:30The online site Edmunds concurs, saying tariffs are putting pressure on new car dealers,

00:36leading to a cautious approach when it comes to offering deals.

00:39In April, President Trump imposed a 25% tariff on all imported vehicles.

00:45Trump then added another 25% levy on imported auto parts, such as engines, transmissions, powertrain, and electrical components,

00:53pushing the cost of a new vehicle even higher.

00:56Add to that, Cars.com reports new car inventory is down 6% from a year ago.

01:03That lack of supply reduces the need for dealers to offer bargains or deep discounts.

01:08Instead, this year, waiting could wind up backfiring,

01:12as once the 2025 model year cars are gone, they are gone.

01:17For more unbiased updates, download the Straight Arrow News app or go to san.com.

01:20Transcription by ESO.com

01:25Transcription by —

01:26Transcription by —

01:27Transcription by —