Why are prices of minivan and full size suv starts getting expensive like to $30,000 after 2011 or 2013 and in the past like 1996-99 minivan costs like $16,000 -$19,000? Then $19,000-29,000 within the 2000-10 period timeline?
Haven't you heard? There's a shortage of cars.
In addition to the market conditions discussed, for price increases you've mentioned since the 1990s look up "inflation".
It’s supply and demand. There aren’t enough supply of cars, for the demand of what people want to buy at the moment.
Less cars, more demand for those cars, means higher prices.
More cars, less demand for those cars, means lower prices.
This is why USED cars can go MORE than the MSRP if a new car, because the used car is available now, but there is no telling when the new car will be here.
So, this also happen in the pass after the year of 2007 because some minivans I saw in 2007 like Dodge Caravan MSRP was only $17,860?
MSRP prices have gone up in these years due to inflation. This means the dealership invoice price has gone up too so even in the pre-pandemic car market cars were definitely more expensive than what they were like 10 years ago. Added to that is the car shortage and dealerships adding markups making cars even more expensive.
