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New, used car prices soar, but here is how you can still get a deal

Young said he loves the car and he feels lucky he got his deal just in time, noticing a rise in new car prices. New and used vehicle prices are soaring and show no signs of leveling any time soon as inventories for each remain skimpy, analysts said.
Tight inventory equals high prices. The accelerating prices have created a divide between the haves and the have-nots for at least a year. Wealthy people buy pricey large pickups and SUVs, benefiting from low interest rates and robust markets in housing and stocks, analysts said.
Working-class and poor people are pushed into the used car market as affordable new small cars are increasingly scarce, especially from domestic carmakers who opted to build trucks in recent years to meet changing consumer tastes. ....

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New car and used car prices soar, but here is how you can still get a deal

New car and used car prices soar, but here is how you can still get a deal
yahoo.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yahoo.com Daily Mail and Mail on Sunday newspapers.

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Difficult 2020 ends on an improving note for US carmakers | Money

Wednesday, 06 Jan 2021 08:07 AM MYT
GM cited continued consumer hunger for pickup trucks, sport utility vehicles and other large cars that enabled the auto giant to score record average transaction prices in the fourth quarter and for the full year. Reuters pic
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NEW YORK, Jan 6 General Motors and Toyota reported strong US sales at the end of 2020 yesterday, reflecting surprisingly robust consumer demand that mitigated the sales drop for the full year in the wake of Covid-19.
The pair are the top two automakers by US market share, and both scored higher sales in the fourth quarter despite notching double-digit sales declines for all of 2020. ....

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Cox Automotive December Forecast: Sales Pace Continues to Slow as 2020 Stumbles Across Finish Line

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ATLANTA, Dec. 22, 2020 /PRNewswire/ Boosted by year-end sales and extra selling days, light vehicle sales in the U.S. for December are expected to finish near 1.54 million, a 1.9% increase over last December. The gain is a bit misleading, however, as there are 28 shopping days this month, three more than last year and five more than last month. With that many extra days for vehicle shoppers to acquire new wheels, a volume increase is more than expected. When volume is viewed on a seasonally adjusted basis, the sales pace is forecast to fall to a 15.5 million seasonally adjusted annual rate (SAAR), down from last month and down nearly 7% from last December s 16.8 million pace. ....

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