New Vehicle Costs Continue Rising

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Sticker prices on new cars are going up. One reason behind the hike may be traced to customers wanting more features. Henry Ford Museum Transportation Curator Matt Anderson told Michigan News Network newer Ford models are a long way from the Model-T.

“It’s hard to speak for Ford, but I’m sure he would be quite surprised at prices like that,” Anderson said. “He would be surprised at the variety of vehicles offered right now. And frankly, the wants of customers. They want to have all those different choices and options.”

MNN Autobeat Reporter Jeff Gilbert says while the cost of new cars is getting higher, used car prices have been more affordable, although a recent vehicle shortage has made them less available. He says there are some new, entry-level cars, but prices still start in the low 20s. However, an economic downturn could bring prices down.