What are gas prices going to do to car prices?

Waiting————_ I may have to replace a 17 year old SUV. Big vehicles tend to go down in price with increased gas prices.

Car prices up. Electric car prices down.

@RedDeerGuy1 Hybrid and electric cars around here are spoken for before they arrive. Some dealers are charging $500 to get on the list for hybrids !

@Tropical_Willie The high prices are temporary, until the chip shortage ends. President Biden’s state of the union address declared a new chip plant in USA. Possibly within 5 years.

I don’t think the gas prices will affect car prices. I hope I’m wrong and it does drive car prices down. Gas prices have been this high before, let’s see if they go much higher.

Biden in his state of the union address mentioned a new factory that is going to be built and I wondered if what they produce will be chips for car computers? I would think that would eventually bring down car prices.

Side note: I tried to fix your topics and couldn’t, the words get changed automatically when I write then also. I could try separating the words gas and prices if you’re ok with that? It’s ridiculous that Ukraine can’t be capitalized.

@RedDeerGuy1 Yes so I need a new car but have to wait until 2027 ? That doesn’t work for me.

@Tropical_Willie I believe that some electric vehicles will made, in the world, before the new chip plant in America. You can hunt for one of those. Governments are subsidizing electric cars as much as a $12,000 tax rebate in Canada/USA for locally manufactured cars.

Don’t need hybrid / electric and the dealers have something called ADM (additional dealer mark-up) for sometimes $7,500 to $9,000 tacked on to full sticker price; subsidies only work if you end up with money ! ADM takes it all that away.

Local Ford dealer has 7% to 10% of their normal inventory of new cars, they are selling last years model for 5% above sticker price ! $50,000 sticker price for last year and now with 9,000 miles on it and they want $52,250.

My ex-coworker got a Ford hybrid for $14K a few months ago. He wanted to buy another one last month but the same car, same year is not $19K. Cars that use lower than average amount of gas are getting really expensive in our area.

Biden just announced he’s cutting off importing oil from Russia.

He said companies should not be taking advantage of the situation and gouging people. I’m glad he said It! In my opinion he was alluding to exactly what I was saying, that Americans believe gas prices will go up, and so companies will take advantage of the expectation.

I agree this is a chance for Americans to fight with Ukrainian without actually being physically in the country. Americans will take this hit on energy supply. How I see it, this of course hurts the poor the most, and I think companies that functioned just find remotely should go back to full remote or fewer required days for hybrid to lower US oil and gas consumption.

The less demand the lower the prices for people who must commute. Also, luckily, we are coming into spring and I would assume (I don’t know this for a fact) that gas and oil consumption in homes goes down in spring and summer. Maybe it goes up for travel though?

Well, crude oil prices went up so the cost of gas should go up. But gas in the gas station storage tanks were made with cheaper oil. How did gas price jump up so fast? The actually-expensive gas has barely made it out of the refineries.

@RocketGuy yes that is logical but wait until gas hits $5, $6 or $7.