According to a new report, many automakers make high profits during the recent vehicle shortages, but not Subaru. Kelly Blue Book and Cox Automotive Dealer Track say comparing January 2022 new vehicle transaction prices with February 2022, Honda (+3.5%), Hyundai (+0.4%), Stellantis (+0.8%), and Toyota (+2.3%) prices are up while Subaru prices have dropped -2.5 percent.
Michelle Krebs, the executive analyst for Cox Automotive, says, "Consumers are paying near top dollar for new vehicles as prices remain high and incentives fall to a record low."
There have been reports that some Subaru retailers are marking up specific models like the Outback Wilderness, up as much as $7,303 above Manufactures Suggested Retail Price (MSRP). But that is the exception and not the rule. You can read the complete report here.
Subaru of America President and CEO Tom Doll sent out a communication to retailers saying the automaker takes pride in NOT doing what a typical car dealer would do by giving new cars huge markups. He says it goes against the H.E.A.R.T. (honest, empathy, appreciation, respect, trust) pillars which is the foundation of the Subaru brand.
The data from Cox says the average MSRP on all non-luxury vehicles has decreased over the past four months, but car shoppers are still paying on average more than $900 above sticker price. In February, the average price paid for a new non-luxury vehicle was $42,467.
The average new Subaru model transaction price in January 2022 was $35,495 compared with $34,598 in February 2022. Subaru Forester, Outback, Crosstrek, and other are all-wheel-drive Subaru models remain affordable even in the current climate where demand far outstrips supply.
What can Subaru shoppers expect this year?
The 2022 Subaru Forester, Outback, and Crosstrek will be tough to find this spring and summer because of supply chain issues. A source close to Subaru told us new 2022 Forester orders had been shut off for an undisclosed period.
The 2022 Subaru Outback, Crosstrek, Ascent, and Legacy are still being produced and ordered from U.S. Subaru retailers. The BRZ, Impreza, and Solterra are now sold out for the entire year.
According to the Cox data, even with the new vehicle shortages, Subaru prices have gone down this year. Most Subaru of America retailers are honoring the Subaru Love Promise and not charging well above MSRP.
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Denis Flierl has invested over 30 years in the automotive industry in a consulting role working with every major car brand. He is an accredited member of the Rocky Mountain Automotive Press. Check out Subaru Report where he covers all of the Japanese automaker's models. More stories can be found on the Torque News Subaru page. Follow Denis on Facebook, Twitter, and Instagram.
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