Average transaction price for a new light vehicle in the United States was $38,940 in May 2020

"KingT- 60% of the time, it works every time" (kngt) 06/27/2020 at 18:29 • Filed to: New Cars, prices, car prices

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New vehicles are fucking expensive! In other news, water is wet.

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I was doing some Unnecessary Car Shopping™ as always and even midsize sedans (which are officially or unofficially dying) which have supposedly have big discounts outside of trucks are not immune.

Who is the Leader - 404 / Blog No Longer Available > KingT- 60% of the time, it works every time 06/27/2020 at 18:38

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That’s almost Veloster N money! Yet we are buying Buick Encores with those resources. How lost we are.

At least I very much like two of the three cars pictured and the third I don’t mind. Imagine telling yourself 10 years ago Toyota would have to make the Camry sporty and exotic looking for it to compete. 

BrianGriffin thinks “reliable” is just a state of mind > KingT- 60% of the time, it works every time 06/27/2020 at 18:44

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Like two years ago you could buy a new Camry for under $20k. This is crazy. 

ranwhenparked > KingT- 60% of the time, it works every time 06/27/2020 at 18:58

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This is why I don’t think the fundamentals of Eli’s idea were bad, just the execution. Car prices have gone crazy, there is room in the market for someone to move in and inject a little sanity, bringing those sky high prices back down to earth. A modern successor to the Beetle and Model T, cheap, simple, reliable transportation for people who want new car peace of mind, but don’t care about frills and just want to get to work and the grocery store. A major automaker won’t do it, their cost structures are too high, and any sales would undercut their more profitable models.

Someone could come in with a sub-$10k car and sell 40,000-50,000 of them a year though, I have no doubt. Depending on what it looked like, I'd buy one.

Gone > KingT- 60% of the time, it works every time 06/27/2020 at 19:00

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Assuming the avg is weighted by sales volume (no idea) I t’s the full-size trucks. Big volume seller and at $51k each, that will drive  the avg up quickly. Same with mid-size SUVs - look at the differential vs mid-size sedans (~$14k!). A lot of talk about people going full-size vs midsize because midsize trucks cost the same but the pricing listed doesn’t support that at all ( $36k vs $51k). Be interesting if it was split out between 1/2 tons and 3/4+. Can’t believe it moves the average down nearly that far though.

Manny05x > KingT- 60% of the time, it works every time 06/27/2020 at 19:07

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God and dont get me started on the all unnecessary tech driving prices insane.  

RallyDarkstrike - Fan of 2-cyl FIATs, Eastern Bloc & Kei cars > KingT- 60% of the time, it works every time 06/27/2020 at 19:23

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It makes me really sad you can’t find many cheap, simple cars these days...like legit $10-15,000.....there was a time when my gen of Accent was new that you could get a new base model ‘stripper’ version for $9995 new (plus fees and stuff, but still...)

Manwich - now Keto-Friendly > KingT- 60% of the time, it works every time 06/27/2020 at 19:27

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Obviously the solution is we need more people to buy more Mitsubishi Mirages!

UnderSTeerEnthusiast - Triumph Fanboy > BrianGriffin thinks “reliable” is just a state of mind 06/27/2020 at 19:27

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What 

ranwhenparked > ranwhenparked 06/27/2020 at 19:30

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*Elio, effing autocorrect 

ranwhenparked > Manwich - now Keto-Friendly 06/27/2020 at 19:33

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The Mirage is a perfectly fine car, really, not my cup of tea, but it gets the job done. A lot of people driving around with crazy long car loans would be much better suited with a Mirage, no doubt. My chronically unemployed brother who’s on his second Genesis in 5 years is one of them.

Under_Score > KingT- 60% of the time, it works every time 06/27/2020 at 19:42

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$2,000 of dealer add-ons + $700 dealer fee + tax & tag + 10% or more interest for six years = not surprising.

Tripper > KingT- 60% of the time, it works every time 06/27/2020 at 20:22

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Wtf are people buying!? Are CUVs 40k?! Or are the pickups throwing the numbers?

Tripper > BrianGriffin thinks “reliable” is just a state of mind 06/27/2020 at 20:24

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Paid 21k for a brand new forester in 2017.

Tripper > Who is the Leader - 404 / Blog No Longer Available 06/27/2020 at 20:26

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A Hyundai Veloster costs 38k?

gmporschenut also a fan of hondas > Gone 06/27/2020 at 20:39

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last year f150 averge was $ 46. 7 I recall somewhere 6 :1 f150 vs 250/ 350. which isn’t far to pull up that number up. 

https://www.torquenews.com/3768/latest-numbers-show-just-how-popular-ford-f-150

notsomethingstructural > KingT- 60% of the time, it works every time 06/27/2020 at 20:42

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The people buying new cars this May probably have a lot more job security and money compared to the average person. The “haves” in May were working from home and had a bunch of extra time between no commute and no retail shopping . The “have nots” were working overtime as essential workers -  or laid off.

BrianGriffin thinks “reliable” is just a state of mind > Tripper 06/27/2020 at 20:43

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I bought a brand new XT for $22k not that long ago. I was casually looking at 2020 Foresters and about had a heart attack at their STARTING price. 

TheJWT > KingT- 60% of the time, it works every time 06/27/2020 at 20:58

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Jesus... If I added up what I paid for the 3 cars and 2 motorcycles I’ve owned I’m at a little ov er half that number

Who is the Leader - 404 / Blog No Longer Available > Tripper 06/27/2020 at 21:10

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I'm sorry that is more of 30k if you get the performance pack. Now I'm even more horrified since I was reading 28k, which does seem low in retrospect.

Tripper > Who is the Leader - 404 / Blog No Longer Available 06/27/2020 at 21:14

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lol I knew there was a fast veloster but I was pretty sure not that fast. I often end up with a veloster as a rental.

Who is the Leader - 404 / Blog No Longer Available > Tripper 06/27/2020 at 21:43

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Hmmm I didn’t know any companies were renting them. What company?

Yeah that would be a very different beast. There is that mid engined Veloster that was seen testing. Homologation special? That would be something.

shop-teacher > RallyDarkstrike - Fan of 2-cyl FIATs, Eastern Bloc & Kei cars 06/27/2020 at 22:06

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I considered buying a new '08 Accent for a shade over $10k. It was a decent car, but I'm glad I decided to keep my truck.

Tripper > Who is the Leader - 404 / Blog No Longer Available 06/27/2020 at 22:07

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Enterprise . It was not the worst thing I have ever driven, but it was close. Funnily enough I didn’t mind the Accent rental I had, but I was in Kauai, so I could have been driving anything.

What is the “N” car pitted against? Civic, GTI, wrx?

shop-teacher > Tripper 06/27/2020 at 22:10

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Its really easy to get a CUV to $40k. Especially if it has 3-rows. Minivans are $40-50k if you want the fancy electric doors and flipity screens and whatnot.

Who is the Leader - 404 / Blog No Longer Available > Tripper 06/27/2020 at 22:11

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Was this the first gen as a rental? Those had their flaws but I’ve heard nary a bad word against the current gen.

Veloster N is a novel approach to the hot hatch. Not quite as fast as a GTI but it is more about the fun than the outright speed. It is a pretty solid entrance to the sub 30k performance category. Not a big player and they know it but that’s the point. Perfect way to build a performance brand though. I’m excited as to what they do next.

The N is basically my attainable dream car right now so I am clearly very biased.

Tripper > shop-teacher 06/27/2020 at 22:18

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Wowzers. I go completely blind to anything besides a 997/991 911  past $ 40,000 . 

shop-teacher > Tripper 06/27/2020 at 22:25

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That's why I'm clinging to my '06 Sierra for dear life. I'm going to have its rockers redone this summer. I paid under $22k out the door for it brand new. A replacement will be literally double that.

BaconSandwich is tasty. > Manwich - now Keto-Friendly 06/27/2020 at 22:29

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Isn’t it one of the only cars for sale that weigh less than 2,000 lbs?

Tripper > Who is the Leader - 404 / Blog No Longer Available 06/27/2020 at 22:30

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Not sure what gen it was, it was white and certainly rental spec . I drove it from Philadelphia to St. Louis and back. I mean it was fine , driver’s seat was terribly uncomfortable. Also I cannot understand the use case for the 3rd door/ rear seat unless you are a small/medium sized pet.

BaconSandwich is tasty. > ranwhenparked 06/27/2020 at 22:30

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One can dream, right?

Heck, I wish someone would resurrect Aptera while we’re at it.

RallyDarkstrike - Fan of 2-cyl FIATs, Eastern Bloc & Kei cars > shop-teacher 06/27/2020 at 22:30

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In your line of work, I imagine a truck would be more useful with hauling tools and shop supplies and such. The Accent would’ve been a fine DD though :)

shop-teacher > RallyDarkstrike - Fan of 2-cyl FIATs, Eastern Bloc & Kei cars 06/27/2020 at 22:33

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I could live without a truck if I had to, but it would be a huge PITA. Plus the truck has been so good to me and m y family over the years. It’s really become a part of the family.

Tripper > shop-teacher 06/27/2020 at 22:34

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I told my wife that her next car ought to be able to tow a reasonable amount (say 5k lbs). It will most likely be a 4 runner. That is as close as well get to the average (with a non neeto vehicle) as I plan to get it used when the time comes.

ranwhenparked > BaconSandwich is tasty. 06/27/2020 at 22:47

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Its not rocket surgery, you can do it dirt cheap - just find some old cast-off small car design from a reputable manufacturer, hire an Italian design house to give it a quickie facelift, and contract with some Chinese or Indian manufacturer to build it for you. Sell it in the most basic spec possible within regulations, and have everything else be an extra cost option. Get some social media influencers to do the marketing, they’re mostly empty headed morons, but so are most American consumers, and people buy from people they recognize and trust. Its worked for all sorts of ridiculously shitty startup watch brands.

- Alternatively, copy Reliant’s model - simple ladder frame chassis with a solid axle, double walled fiberglass body, mid mounted small displacement engine, that would be way, way, cheaper to build and significantly   more practical and car-like than the Elio, if you wanted to stick with the autocycle route. 

shop-teacher > Tripper 06/27/2020 at 23:14

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The most expensive vehicle I’ve purchased was my wife’s new 2015 CX-5. That was 28k with every option except the technology package (sticker was almost $32k I think) . It’s almost paid off and doesn’t even have 16k miles on it yet, so I think we can hang onto that for at least another decade. Hopefully more.

Manwich - now Keto-Friendly > BaconSandwich is tasty. 06/27/2020 at 23:22

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If you’re in Canada, the Nissan Micra would be similarly light. 

Who is the Leader - 404 / Blog No Longer Available > Tripper 06/27/2020 at 23:41

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It isn’t supposed to be useful, it is supposed to be quirky without being too impractical. Sort of a compromise between a four and two door.

Since you said the seat was uncomfortable it was probably the first gen. That one's interior sort of let it down.

HFV has no HFV. But somehow has 2 motorcycles > TheJWT 06/28/2020 at 01:50

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Camry 1800, Civic 4000, Civic 700, mx6 2200, Integra 1800, accord 1800, Civic 5500, galant VR4 1500, 328i 10,000, rabbit 1200, tomos 200, xt200 1300.

I’m barely cracking 30,000 with all the vehicles I’ve owned over the last 12 years. 41,000 if you count my wife’s Honda Fit that was 11,000. 

RallyDarkstrike - Fan of 2-cyl FIATs, Eastern Bloc & Kei cars > shop-teacher 06/28/2020 at 07:06

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Reminds me of the ‘93 Caravan we had growing up, I still miss that thing! It was like a loyal pack mule, haha!

Taylor Martin > ranwhenparked 06/28/2020 at 18:42

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Sounds like you’ve thought this through , m aybe you should start the company haha.

Taylor Martin > KingT- 60% of the time, it works every time 06/28/2020 at 18:44

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I wanted something dirt cheap and used, cause I like junkers and clunkers. An old Subaru Outback was what I was in the market for when I was looking for my first car, and I found so many under 10,000. I genuinely don’t think I’ll ever buy a brand new car simply because used is cheaper.

Besides, older cars are way cooler. Reliable? Maybe not. But very cool.

BaconSandwich is tasty. > ranwhenparked 07/01/2020 at 23:51

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I think that may have worked, even 10 years ago, but with tightening emissions regulations, I think pulling that sort of thing off is going to become more difficult in the future. I think in the future, it’ll be more like “Find some existing Chinese EV, slap a new badge on it, and try to get some ‘social media’ influencers to hawk it, after jacking up the price 800%”.

BaconSandwich is tasty. > Manwich - now Keto-Friendly 07/01/2020 at 23:53

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Ah, interesting!  I am in Canada.  It seems like the 4th generation, which is what I’ve seen for sale around here does clock in under 2,000 lbs.  The fifth generation looks like it has gained a bit of weight, unfortunately.

Manwich - now Keto-Friendly > BaconSandwich is tasty. 07/02/2020 at 01:52

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I’m in Canada too!  Happy Canada day!