02/16/2024
Twenty-five years ago, the average new car retailed for just under $20,000. In 2021, new car prices soared almost 20% to top $45,000. This surge was driven by COVID’s impact on parts, electronics, consumer demand, price gouging and factory shuttering. The part shortages and the price increases for new automobiles have spiked the price of used cars as well. It has wreaked havoc with collision repair scheduling and costs. Still, consumers have embraced “it’s cheaper to keep (their car) than replace” as evidenced by the average age of light vehicles in the US increasing to an all-time high of 12.2 years. It is the 5th straight year of average car age increase in the country. https://sandiegocollisioncenter.com/uncategorized/car-maintenance-repair/san-diego-collision-center-repair-miramar-shares-new-car-pricing-impact-on-auto-body-repair
