Why Have Vehicle Prices Risen?

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You may have noticed that vehicle pricing, new and used, has risen considerably since the onset of covid-19. If you’ve ever wondered why, and when this will change, this may give you an insight…The current issue with the new car market is that supply has tapered off due to the challenges of manufacturing (in the applicable countries) due to Covid-19.

Couple this with the challenges of transport, import and export for the same reason, this supply pressure on the new car market has pushed up pricing and made delivery timeframes much longer than they were prior to covid-19.Because of the above scenario, demand has switched to the used car market, and whenever we see an increase in demand, again we see an increase in price.

Australians are also finding that due to the lack of travel, that they have more disposable savings, and this has been spent domestically on goods such as cars, again increasing demand.Pricing should return to a sensible level once the new car market can supply to demand, and lead times for production shorten, albeit this may take some time.Disclaimer:This post and or its links or the content of the post or links do not represent the views, intentions or advice of any business component of the Thane Group.

This post and its links are not intended in any way to formulate any part of advice formal, personal or otherwise. This post is designed for the information only purposes of its audience.

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