Car prices stay high

Wellington: If you are in the market for a new car and have been holding out for prices to drop, you might be out of luck.

A vehicle shortage caused by the pandemic has resulted in the average sale price for new and used cars climbing since the middle of last year, with predictions once supply returned, prices would fall.

Supply is starting to come back, but prices are not budging.

Stats NZ data showed the average price for a small car last June was just under $15,000 — it was now more than $18,000.

It was the same jump for a medium car — now going for about $25,000 — and a large car,priced about $34,000 in March last year, now averaging $40,000.— RNZ