Looking to Buy a New Car? In Birmingham, Expect to Pay Above MSRP
BIRMINGHAM, Ala — A fresh report by iSeeCars reveals that the Birmingham citizens looking to purchase a new car should anticipate to pay about 7.9% above the manufacturer’s suggested retail price, also known as the MSRP. This figure, however, indicates a moderate drop from last year when cars were sold at 8.5% above the MSRP.
Slow Decrease in Price Inflation
While a 0.6% decrease may not appear significant, iSeeCars Executive Analyst, Karl Brauer, praises this as a considerable reduction compared to car prices during the COVID-19 pandemic. During that period, new vehicles were retailing at stunning prices of between 15% to 30% above the MSRP.
Brauer attributes the downward trend in asking prices to an adequate supply of cars paired with a slight decrease in demand. However, he also quickly notes that the final price is highly dependent on the make and model of the car, implying that consumers might still encounter cases of significant price inflation.
Varying Prices by Car Model
The analysis shows disparities in markup prices depending on the make and model of the vehicle. Some cars such as the Porsche Macan, Toyota Corolla Cross
