Estimated duration: 2-3 minutes
SANDY — The 2023 Utah International Auto Show opened Friday at the Mountain America Exhibition Center in Sandy. People can find hundreds of new cars, trucks, crossovers, SUVs, and electric vehicles throughout the holiday season weekend.
Luxury cars, sports cars and all-electric trucks and SUVs take center stage as you step onto the expo floor. If you’re looking for a car under $30,000, you’ll find some great ones too.
Bryan Moody, executive editor of Kelly Blue Book, said, “Any time you pick something popular, you’re paying.
Keep this in mind if you’re kicking the tires of your next car rather than attending the expo just to soak up the latest and greatest cars.
“Electric cars make a lot of news, but they are also very expensive. Hybrids are a way to get the most out of that technology and still stay within existing budgets,” he said. .
The average electric car price is $65,000. However, they only account for 5% of the market. Today, the average price of all new cars is $47,000. Hybrids usually cost in-between.
“But the expensive part of an electric car is the battery, and hybrids and plug-in hybrids have the same type of battery, but much smaller, so they’re much closer to petrol cars,” Moody said. I’m here.
Due to the high demand and the decrease in production in recent years, the price is soaring. And more people than ever are buying luxury cars, according to Moody.
“Luxury cars make up almost 20% of the market,” he said.
That drives up the average cost.
“Not all prices are high. You can find pockets of savings and cheaper cars,” Moody said. “But it’s not a luxury, and it’s not something that everyone wants, like a full-size SUV or a pickup truck.”
Hatchbacks and sedans such as the Honda Accord and Toyota Camry are not in high demand and can be purchased at a better price. A sedan usually costs him $10,000 less than a similarly equipped full-size or mid-size SUV for him. “We’re talking about a car that’s well-equipped for about $25,000 or less and still gets the job done.”
The Toyota Corolla Hybrid has 50 miles per gallon for under $25,000. Kia Soul, VW Jetta, Honda HRV also he is just under $25,000 and is a good looking car with good tech. They’re all at the fair this weekend.
“These types of vehicles tend to be slightly cheaper than full-size truck-based SUVs. Everyone wants them, but they are expensive to manufacture. You will pay more.”
If you’re waiting for new car prices to drop, the Kelley Blue Book editor-in-chief says there’s still too much demand. He recommends doing research online or at a car show where product specialists can answer questions in a non-sales environment. I want to have all the information ready before going to the dealer.
Jed Ball