For the last several years, pickup trucks have been the leading vehicle sold in the United States. For example, Dodge RAM trucks have led the charts in pickup sales in recent years.
With the ebb and flow of the pandemic, many car buyers are wondering if right now is the right time for them to purchase their next vehicle.
If you’re looking to buy a car in the coming year, you may wonder whether or not car prices will be favorable in the near future.
In this article, we will walk you through everything you need to know about whether to buy a car in 2022.
The Trends
As of six months ago, walking into any RAM dealership was quite a shock. New car prices were at an all-time high. Due to supply chain issues and other problems that manufacturers faced, the cost of a new vehicle was unacceptable for most buyers.
However, prices have continued to come down since the world has regained some sense of normalcy.
Even used car prices have started to see a dip as well. The average used car price lowered to under $30,000 in March 2022. This means that for the last three months prices have continued to drop in the used car market as well.
Fuel Efficiency
Recent political developments have led to the increase in prices of gas everywhere in the United States. As a result, the trend toward fuel-efficient hybrid and electric vehicles has accelerated.
Left and right, buyers are looking for a way to make the most of their energy costs.
If this sounds like you, now is a great time to buy a vehicle. Federal and state incentives allow new-car buyers to take thousands of dollars off the ticket price in an effort to make the country green.
The Supply
Unfortunately, supply chain issues have created major headaches for vehicle manufacturers that are trying to get cars out to their customers as soon as possible. You might have found at your local Jeep dealership that the current new vehicle supply is limited for most manufacturers, however, the supply is showing signs of improvement.
Dealers have started to stock millions of new vehicles.
The bottom line is that if you have not been able to find your vehicle over the last several weeks, you might think about making another visit in a month or two. It is likely that the supply will have significantly improved by then.
The Future
Continuing this trend, the second half of 2022 looks to be more promising for new and used car buyers. As inventory continues to recover, especially in the used market, buyers will have more choice and say over their vehicle ticket price.
Analysts expect manufacturers to return to the inventory levels that they had before the start of the COVID-19 pandemic.
Buying RAM Trucks in 2022
At the end of the day, if you’re considering RAM trucks or other best-selling vehicles like Jeep or Honda models, you need to make your decision carefully.
If you’re willing to accept slightly higher prices and need a vehicle now, it is a good time to buy a car if you can find one available. However, waiting until the second half of 2022 will likely allow for lower prices and more availability and choice.
If you enjoyed this article about how to buy a car in 2022, please check out the other articles on our blog!
