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Despite Huge Inventory Problems, Auto Advertising is Surprisingly Steady

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Despite Huge Inventory Problems, Auto Advertising is Surprisingly Steady

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Jim Motavalli

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We have now gone 11 months with cars on dealer lots being sold for "over-sticker" prices. According to Kelley Blue Book (KBB), the average new car in April sold for $46,526, up steeply from $41,172 the year before. Consumers reeling from high new car prices have tried to buy used, but the news isn't good there, either. Carvana, the used-car giant, just laid off 2,500 people, in part because inventory has become very tight. Because of unprecedented demand, the average price for a used vehicle rose 42 percent over the last two years, closing in on $30,000 now, KBB said.

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Jim Motavalli

Auto-industry expert Jim Motavalli is a highly regarded writer for MediaVillage ("Motavalli on Marketing"), The New York Times, Barron's, Autoblog.com, National Public Radio's Car Talk, and others. He is author or editor of eight books, inc… read more

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MediaVillage “Knowledge Exchange” is where leaders share intelligence, insights, stories and experiences in a trusted journalistic environment. Search “Knowledge Exchange” at MeetingPrep.com for free on-demand access to professional learning. Scroll down to visit each dedicated B2B library where the industry’s knowledge is archived. Follow our social network @MediaVillageCom

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