Be it food, utilities or cars, who likes price increases? You pay more, get less or even get nailed with both!
As a result of the competitive automotive environment, in some instances, automakers have cut prices or held them steady. However, as vehicles sales have recently picked up, automakers are upping prices (this is part of the reason drivers are holding on to their used cars longer).
How much have vehicle prices increased? Here is a list of some of the biggest price increases for 2012 as provided by Edmunds.com and reported in USA Today. The prices are specified in the vehicles’ base sticker prices for the 2011 and 2012 models.
Nissan Leaf (electric) $33,720 (2011), $37,720 (2012), 10.5 percent increase
Volkswagen Jetta $21,390 (2011), $23,445 (2012), 9.6 percent increase
BMW X5 $51,800 (2011), $56,700 (2012), 9.5 percent increase
BMW 1-Series $40,650 (2011), $44,100 (2012), 8.5 percent increase
Nissan GT-R $84,060 (2011), $$89,950 (2012), 7.0 percent
Toyota Sienna $31,350 (2011), $33,400 (2012), 6.7 percent increase
Kia Sorento $19,995 (2011), $21,250 (2012), 6.3 percent increase
Nissan Versa $17,410 (2011), $18,490 (2012), 6.2 percent increase
GMC Canyon $30,005 (2011), $31,790 (2012), 5.9 percent increase
Dodge Journey $30,145 (2011), $31,795 (2012), 5.5 percent increase
The greatest price increases have been by the European and Asian automakers. Now, Ford, GM and Chrysler offer some excellent vehicles that are competitively priced. In the process, they stand to gain some market share.
Kyle Busch is the author of “Drive the Best for the Price: How to Buy a Used Automobile, Sport-Utility Vehicle, or Minivan and Save Money.” His auto site: drivethebestbook.com includes an exclusive article just for you, additional car articles, information about Kyle Busch and his 510,000 mile car, and you can even submit your automotive questions and get expert answers. Follow Kyle on Facebook and Twitter.