Among all that happened in 2020, car buyers and the car industry set another new record which we would not say is particularly positive. The average sale price of a new car in December 2020 and the fourth quarter of last year exceeded 33.000 euros ($ 40.000).
Edmunds released quarterly analysis on the car market trends last week which showed that the average purchase price of a new car in the fourth quarter was 29.184 euros ($ 35.373) and buyers gave an average down payment of 3.905 euros ($ 4.734). Add the amounts and you will find the average sale price of a new car - about 33.000 euros.
Although new car prices have risen so much for a while, Edmunds said December always pushes the numbers higher as it is the month that the big luxury car brands pull out the old ones. models to make room for news.
The more luxury cars are withdrawn, the more "weight" falls on the mid-size models. We can see some reduction on average in early 2021, but the long-term transition to electric cars and trucks will not help much. Edmunds noted that trend The market will not change, and buyers of new cars are looking for more and more characteristics and equipment.
All this time, we continue to see a huge financial gap. Jessica Caldwell, CEO of Edmunds, said those with purchasing power did not avoid to Buy a New Car, Even in the Middle of a General | recession. This leaves a multitude of buyers out of it market or push them into the increasingly popular used car market.