Kia’s average transaction price increased by $4,000, while Mercedes’ average transaction price increased by $4,000
The average new car transaction price rose to $48,724 in November 2024. Rewards average 8% of ATP, with 20 brands offering above-average discounts. Prices of luxury cars fell by 25.1%, and prices of small cars fell by 11.1%. If you thought car prices would eventually come down from their Everest-level anoxic highs, you'd be half right, but also wrong. The average transaction price (ATP) of a new car in the United States has risen steadily this year, rising 1.5%, or $699, from November 2023 to currently $48,724. Read: Average new car sales price is $48,000, but buyers only want to spend $35,000 While this figure is down from the previous record of $49,926 in December 2022, it is still the highest recorded so far this year. Some brands are riding the wave of modest increases, but others, including Mercedes-Benz, are watching their prices drop faster than a novice skater. Luxury and traditional brands fell sharply In November last year, the…
Philippines: Internet Transaction Implementation Rules
in short Various agencies led by the Department of Trade and Industry (DTI) signed Joint Executive Order No. 24-03, Series of 2024, containing the Implementing Rules and Regulations (IRR) of Republic Act 11967 or the Internet Transactions Act of 2023 (ITA) . The ITA aims to regulate e-commerce, protect consumer rights and data privacy, and safeguard intellectual property rights. (See customer alert regarding ITA here). The IRR clarifies the scope and coverage of the ITA, the enforcement powers of the DTI vis-à-vis other agencies, and the applicable penalty procedures. It also sets out a code of conduct for online businesses and online consumers and provides additional requirements and obligations. The IRR is currently in effect. However, the ITA granted affected parties an 18-month transition period to comply with legal requirements. The IRR provides additional guidelines that are expected to facilitate the implementation of the ITA, which applies to all business-to-business (B2B) and business-to-consumer (B2C) Internet transactions within the scope of…
Philippines: Internet Transaction Implementation Rules
in short Various agencies led by the Department of Trade and Industry (DTI) signed Joint Executive Order No. 24-03, Series of 2024, containing the Implementing Rules and Regulations (IRR) of Republic Act 11967 or the Internet Transactions Act of 2023 (ITA) . The ITA aims to regulate e-commerce, protect consumer rights and data privacy, and safeguard intellectual property rights. (See customer alert regarding ITA here). The IRR clarifies the scope and coverage of the ITA, the enforcement powers of the DTI vis-à-vis other agencies, and the applicable penalty procedures. It also sets out a code of conduct for online businesses and online consumers and provides additional requirements and obligations. The IRR is currently in effect. However, the ITA granted affected parties an 18-month transition period to comply with legal requirements. The IRR provides additional guidelines that are expected to facilitate the implementation of the ITA, which applies to all business-to-business (B2B) and business-to-consumer (B2C) Internet transactions within the scope of…
Philippines: Internet Transaction Enforcement Rules
brief Various agencies, led by the Department of Trade and Industry (DTI), signed Joint Administrative Order No. 24-03, Series of 2024, which contains the Implementing Rules and Regulations (IRR) of Republic Act No. 11967, or the Internet Transactions Act of 2023 (ITA). The ITA is designed to regulate e-commerce, protect consumer rights and data privacy, and uphold intellectual property rights. (See our client alert on the ITA here). The Internal Rules clarify the scope and coverage of the ITA, the enforcement powers of the DTI vis-à-vis other agencies, and the applicable penalty procedures. It also sets out the code of conduct for online businesses and online consumers and imposes additional requirements and obligations. The IRR is now in effect. However, the ITA provides affected parties with an 18-month transition period to comply with the law. The Internal Rules provide additional guidelines that are expected to help implement the Information and Trade Act, which applies to all business-to-business (B2B) and business-to-consumer…
Average new car transaction price drops to $48,000, with incentives
Now might be the best time to buy a new car in the U.S. in the last three years go through Brad Anderson September 7, 2024 17:22 The average selling price (ATP) of new cars in the United States fell slightly to $48,401 in July. In December 2022, new car prices peaked at $49,929. Today, the average earner can pay off a new car loan in about 37 weeks. The average transaction price (ATP) for new vehicles in the U.S. has soared from about $32,000 to nearly $50,000 over the past decade, but fortunately consumers have received a little relief in recent months. The average U.S. new car sold for $48,401 in July, according to Kelley Blue Book. That's down slightly from $48,424 in June and $106 lower than last July. They're also down 3.1% from the peak of $49,929 set in December 2022. Read: Car insurance prices could rise another 22% this year This is good news for car…
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