New Vehicle Prices Flirt With Record Highs - Why Subaru Just Dropped
Is the price of a new 2022 Subaru Forester, Outback, Crosstrek, Ascent, and other Subaru models going up during the tight new car inventories? A new report from Kelly Blue Book reveals Subaru's new model prices have gone down in May when most automakers' average transaction price is up.
KBB reports with research data from Cox Automotive that the average transaction price for a new vehicle was up 1.0 percent in May and up 13.5 percent for the year. Subaru's average price is down 2.3 percent in May and up only 1.0 percent from last year.
photo credit: Schumacher Subaru
All other mainstream car brands are up in May except for Subaru (-2.3%), Daimler (-0.2%), Hyundai, (-0.8%), Mazda (-1.5%), Stellantis (-0.5%), Toyota (-1.5%) and Volkswagen (-5.6%) compared with April 2022.
Four car brands with their prices up in May
And some new car brand's prices continue to go up. The report reveals the average transaction price for Ford is up 5.2%, Honda (+2.2%), Nissan (+2.1%), and GM (+1.6%) up in May over April.
A recent report from Edmunds reveals that most Subaru retailers charge $592 over MSRP across North America. The average difference between the MSRP and the actual transaction price is $782. It's less than the average for all U.S. automakers.
Automakers charging the most over MSRP
Cadillac has the highest difference at $4,048 over MSRP, with Land Rover (+$2,565), Kia (+$2,289), Porsche (+$1,721), Acura (+$1,701), Genesis (+$1,603), Honda (+$1,508), Hyundai (+$1,498), Audi (+$1,325), Jaguar (+$1,109), and Toyota (+$1,015) the worst offenders.
Why did Subaru prices drop in May?
Tom Doll, President, and CEO of Subaru of America, recently asked its retailers to abide by the automaker's "Love Promise" and not charge over MSRP. Some U.S. retailers were charging over MSRP for its most in-demand models like the 2022 Subaru Outback Wilderness, and Forester Wilderness trim levels.
How do you get the best deal on a new 2022 Forester, Outback, Cross\trek, and other new models?
During the new model shortages, ordering a new 2022 Subaru Forester, Outback, Crosstrek, and other models from Subaru retailers and shipping from the factory is the customer's best option. Building the new compact SUV ensures you get the exact trim level, color, and option package you want and is a little-known method to save time tracking down a vehicle that fits your needs.
Subaru of America is unique regarding tight inventory because U.S. retailers have been selling through their pipeline for years. You can now lock in the price ahead of time, and there are no surprises. The most important thing through this process is to have patience.
Does Subaru offer customer rebates and incentives?
A report from Automotive News reveals Subaru of America has among the lowest incentives (manufacturer rebates) 1.9 to 3.9 percent on 2022 Ascent, BRZ, Crosstrek, Forester, Impreza, Legacy, and Outback models. Subaru offers a 2.9-4.4 percent cash rebate and incentives on the 2023 Solterra EV.
As new car prices flirt with record highs, Subaru pricing has gone up, but retailers sell new 2022 Forester, 2022 Outback, 2022 Crosstrek, and other models close to MSRP. Subaru pricing dropped -2.3 percent from April to May, while some automakers continue to raise prices.
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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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Photo credit: main image Patrick Subaru