Doug’s Dime: The Price Of New Cars On The Rise

The average price of a new vehicle in October hit a record $51,109, with transaction prices growing faster than inflation as a whole at 2.1 percent year over year. This comes as new car sales slowed to 15.5 million vehicles last month, down from 16 million in September, as automakers are happy to sell fewer cars if it means that the vehicles that they do end up selling are the higher-margin SUVs and full-sized pickups. I’m telling you, I’m just having trouble remembering the true meaning for the season, by which, of course, I mean Toyotathon or, for those among us who celebrate, a most solemn December to Remember Sales Event.