Average new car price hit record $47,077 in December

The car business is on a streak, but it’s bad one for consumers.

Auto dealership

Auto dealerships have record low inventories. (Jeff Gritchen/MediaNews Group/Orange County Register via Getty Images)

The average price paid for a new vehicle set a ninth-straight monthly record in December of $47,077, according to Kelley Blue Book.

New car incentives have hit five-year lows. (Jeff Gritchen/MediaNews Group/Orange County Register via Getty Images)

Low inventories caused by ongoing supply chain issues combined with high demand driven by an improving economy have reduced incentives to a five-year low and driven automakers to prioritize production of their most profitable models.

Lots at many dealerships are nearly empty, forcing operators to park the vehicles they have in strategic positions.

Lots at many dealerships are nearly empty, forcing operators to park the vehicles they have in strategic positions. (Jeff Gritchen/MediaNews Group/Orange County Register via Getty Images)

“December typically is the best month for luxury vehicle sales, and 2021 followed that trend in a big

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Automotive Parts Market in Poland to Record USD 8.51 Bn Growth | 7.58% CAGR Projection Through 2026 | 17,000+ Technavio Reports | State

NEW YORK, Dec. 23, 2021 /PRNewswire/ — The automotive parts market in Poland is set to grow by USD 8.51 billion between 2021 and 2026, accelerating at a CAGR of 7.58% during the forecast period. The market is segmented by distribution channel (offline and online) and vehicle type (passenger cars and commercial vehicles). The report provides detailed insights into how vendors are performing in terms of revenue generation, market position, product launches, and customer base among others.

Purchase our full report on the automotive parts market in Poland for a comprehensive analysis of recent developments, new product launches, major revenue-generating segments, and market behavior across geographies.

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Key takeaways from automotive parts market study in Poland

  • Automotive parts market size in Poland to increase by USD 8.51 billion at 7.58% CAGR between 2021 and 2026
  • 7.21% year-over-year growth expected in 2022
  • Offline distribution
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Record Revenues, Gross Profit Per New Vehicle, As Demand Outstrips Supply

As high demand and low new-car inventories drive record high prices across the U.S. auto industry, dealership group Sonic Automotive reported record third quarter revenues of $3.1 billion, a 20.6% increase vs. a year ago, and net income of $84.5 million for the quarter, up 41.2%,

“Consumer demand is still very, very strong,” said Sonic Automotive CEO David Smith, in a phone interview on Oct. 28, following a conference call to announce third-quarter earnings.

“Our new-vehicle days-supply is at an all-time low. The demand for new vehicles is at an all-time high, and we’re at an all-time record gross profit per vehicle, in our new-vehicle sales,” he said.

Smith said in the earnings call that Sonic’s 84 franchised, new-car dealerships had a record low of only around 2,400 new cars and trucks in inventory, representing a 10-day supply at the current sales

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One ETF to Watch as Tesla Makes Record Deliveries

Electric car maker Tesla delivered a record number of vehicles recently, despite staring down a semiconductor shortage that’s racked the automotive industry.

“On Saturday, Elon Musk’s electric carmaker said it delivered 241,300 cars worldwide in the latest quarter,” a Motley Fool article reported. “It’s a record for the company that not only blew past analyst expectations, but also suggested that Tesla’s suffered little impact from the supply chain nightmares that have stalled rivals. For all his annoying tweets, maybe Musk should let the numbers do the talking.”

As mentioned, Tesla is delivering these numbers despite a semiconductor shortage that’s hit the automotive industry with a gut punch. According to the article, AlixPartners forecasted that automotive manufacturers will produce 7.7 million fewer vehicles in 2021 as a result of the shortage, which is almost double their original number.

“Taking a step back, with the chip shortage a major overhang on the

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