A new report shows that many of the best-selling cars in the United States have seen strong increases over the past three years.
BestBrokers analyzed the price of vehicles in the United States and found increases of up to 22.2%. That would belong to the Chevrolet Silverado, which went from an average price of $28,300 in 2019 to $34,600 in 2022 (all prices are in US dollars).
The Ford F-150, one of the best-selling vehicles for a long time, has gone from $28,155 to $31,520 over the past three years. That’s a jump of 11.9%.
“This [gives] gives us insight into how the automotive industry has coped with changes in supply chains and logistics, imposed by the pandemic and the currently raging energy crisis,” the BestBrokers report said.
Rounding out the five most popular cars and their price increases, the Ram 1500 saw a 9.1% increase to $36,500; the Toyota Rav4 went from $25,650 to $26,975, up 5.15%; and the Honda CR-V jumped 9.6% from $24,450 to $26,800.
The GMC Sierra, the ninth most popular vehicle, had the second highest price increase, rising from $29,600 to $35,400, a 19.5% increase.
“With rising inflation and rising energy prices, it’s no surprise that major automakers are raising prices in order to retain their margins to some extent,” said Alan Goldberg, market analyst at BestBrokers. “However, Toyota is the company that seems to want an even bigger market share than its competitors because it is known for its relatively high production quality, but its prices have risen very little compared to other automakers.”
Indeed, the Toyota Camry (up 7.6%), Highlander (up 6.3%) and Tacoma (up 5%), as well as the Rav4, saw the smallest price increases during of the last three years.
“We have yet to see what direction the fossil fuel auto industry will take with the growing popularity of electric cars and rising fossil fuel prices, but market leaders will certainly do their best to take advantage of the industry hurdles and trying to get a bigger market share, with technology and resources they can rely on,” Golberg said. only negatively, but also because new opportunities and Toyota’s minimal price increases seem to confirm this.”