The average price paid for a new vehicle in the U.S. last month was the second-highest on record, behind only December 2021, when average transaction prices reached $47,202.
Electric vehicles and hybrids are becoming a coveted commodity as consumers turn practical about operating costs.
The Ford F-150 Lightning, which just started deliveries to customers in March and is sold out, was the third most-shopped EV and the seventh overall among electrified vehicles.
The trend continues to be much worse now than a year ago when prices were notably lower and incentives were higher.
Shopper interest in electric vehicles has increased to 66% since January, when gas prices started to rise.
Despite squeezed supply, the used-vehicle market has been playing a key role in the recovery of the automotive industry.
Demand is strong and expected to break records in 2022 because CPO fits an important sweet spot in the vehicle market.
Available inventory is still down 62% behind the same period in 2020. The days' supply as of December remained 48% below Dec. 2020.
December 2021 numbers show the accumulating effects of supply chain shortages, price inflation, and static media incomes.
Analysis: A big drop of 20% to 30%, as one report suggests, is highly unlikely. History tells us a decline of more than 10% is rare indeed.
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