Fin - Daily Ticker - US

If Not Now, When? It’s a Bad Time to Buy a New Car, Edmunds.com CEO Says

The 2011 New York International Auto Show kicks off Friday at the Jacob K. Javits Convention Center. Nearly 1,000 cars will be displayed for both car enthusiasts and those in search of the perfect new car to check out.

The Daily Ticker's Aaron Task got a sneak peek yesterday and met up with Edmunds.com CEO Jeremy Anwyl who says the big theme at this year's show is fuel efficiency.

With the average price for a gallon of gas approaching $4 this may come as no surprise. But, beyond the large focus on hybrid and electric cars, a comeback of sorts is in the making.

"If you look beneath the headlines, there has been a lot of progress in terms of just the plain old internal combustion engine," Anwyl says. Many of these smaller cars are offering better mileage per gallon (mpg) and fewer emissions at really competitive prices.

He points to these three examples:

  • Chevrolet's Cruze Eco which offers 42 mpg on the highway, 28 mpg in the city and has a starting market sticker price of $16,525.
  • Ford's Fusion which offers 36 mpg on the highway, 41 mpg in the city and has a starting market sticker price of $19,820.
  • Hyundai's Elantra which offers 40 mpg on the highway, 29 mpg in the city and has a starting market sticker price of $14,830.

The other topic top of mind this year is the impact of Japan's earthquake and Tsunami on the auto industry's global supply chain. Anwyl believes car and part shortages could remain an issue through the summer and that the season's usual deals and steals just won't be there this year. "If you have to buy a vehicle…you may want to wait until the fall," he says.

And, if you can wait until the end of the year, prices may be even better as car makers try to catch up on the production lost due to the crisis in Japan. A greater supply of cars on the market means lower prices for all!

Editor's Note: Stay tuned for more Daily Ticker coverage of the New York Auto Show!

View Comments (93)