Car Prices Are Surging

Photo by Obi - @pixel7propix on Unsplash Chaos is back in the used car market. While prices had finally started to drop towards normal late last year, this trend has abruptly reversed course. Inflationary pressure from new and used cars is back in early 2023, with new car prices setting records every month this year. With consumer confidence still high, more affluent consumers remain willing to pay near record-high prices for some of the priciest vehicles on the market.

10 pop stars who drive some of the most expensive cars

BG015/Bauer-Griffin // Getty Images Some celebrities are low-key and choose to drive the same cars as you and me. Justin Timberlake famously cruises around town in a 2002 Volkswagen Jetta to avoid unwanted attention while going about his day. Billionaire Mark Zuckerberg is often seen driving an Acura TSX. Others, however, swing in the opposite direction and are out and about in rides so lavish that one has to wonder if celebrities really do try to one-up each other.

Here's what the most popular electric vehicles cost the average driver to own

canadianPhotographer56 // Shutterstock While the automotive industry sharpens its turn towards manufacturing eco-friendly electric models designed to offer a small-to-no direct carbon footprint, drivers steadily follow the trend as their trust in these new cars grows. A tangible result of the increasing demand for electric vehicles both in the U.S. and around the world is the progressively declining cost of buying and owning one. An incentive for potential EV buyers was announced by the Biden administration in 2022 as part of the Inflation Reduction Act.

Americans spend $179 on fuel each month—here's how to spend less

Canva Owning a vehicle comes with a whole host of costs—from insurance and maintenance to parking and tolls. And if the past year has proven anything, it’s that another cost associated with vehicle use—namely fuel—can fluctuate wildly, putting further strain on your bank account for an already costly necessity. CoPilot looked into the Bureau of Labor Statistics’ Consumer Expenditure Surveys to see how much Americans spend on fuel for their vehicles and used sources from insurance companies, transportation fleet managers, and government agencies to determine some ways to lower that expenditure.

Cities That Lose the Most Time in Rush Hour Traffic

Photo Credit: ddisq / Shutterstock The COVID-19 pandemic brought about a huge shift in people’s daily lives, including their commutes. Suddenly, millions of people who used to commute to an office were working from home. While many companies are now requiring that their employees return to the office, there has been a lasting impact on daily commutes. Overall, commute times are less than before the pandemic, but bad traffic in some cities can cause commuters to lose days’ worth of time annually.

10 cars celebrities drive and their average pricing

Jason LaVeris // Getty Images Cars aren’t just a means of getting around town—they’re a status symbol. The most expensive car in the world as of 2019 was the Bugatti La Voiture Noire, ringing in at about $19 million. Soccer player and car collector Cristiano Ronaldo is the car’s suspected owner. That astounding price tag was bested in May 2022 when a 1955 Mercedes-Benz 300 SLR Gullwing Uhlenhaut sold for $142.

States With the Most Alternative Fueling Stations

Photo Credit: New Africa / Shutterstock In just a matter of years, electric vehicles have emerged as the clear future of the automotive industry. In 2008, the nascent car manufacturer Tesla released its first Roadster models, targeting sales of 100 units per month. Over the ensuing years, Tesla grew into one of the largest companies in the world by market capitalization and today leads the global market for EVs, selling nearly 1 million units per year.

Here's what the most popular American vehicles actually cost the average driver

My Ocean Production // Shutterstock The cost of a car or truck is more than just the price you pay driving it off the lot. Every year, auto owners need to factor in a number of different costs to determine the true price of owning a particular model. Everything from the cost of repairs to the price of fuel goes into determining such a cost. As supply shortages and varying demand have made the current auto market one of the most challenging in recent memory, the idea of affordability has begun to change.

Brands With the Largest Used Car Price Premiums

Photo Credit: SHERBOCK / Shutterstock After more than a year of high inflation across all parts of the economy, consumers have recently been seeing some signs of relief. The overall rate of growth in the Consumer Price Index has leveled out in recent months after a steep run-up in 2021 and early 2022. And categories that have grabbed headlines for fast-rising prices are cooling down as well. Gas prices dropped from $5.

Most expensive cities for car rentals

asiandelight // Shutterstock It might be hard to believe that a “cheap” vacation can exist anymore, given that prices for everything have increased. That’s especially true if you need a rental car for your trip. When the pandemic shut down the world, the travel industry took a steep hit. Car rental companies in the U.S. had lots full of cars that no one was renting, so to stay solvent, they sold off their excess inventory.

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