The latest car magazines, Web pages on the Internet and the Wall Street Journal are all saying the same thing: if you’re looking to purchase a new car next year, the prices for the ’98 line will be more modest than they have been in years.
Last month General Motors Corp. (GM) said it will raise prices for its 1998 cars and trucks by an average of 1.3 percent. The reason is the moderate decrease in consumer demand.
The largest increase for GM cars will be on the newer models that are selling well, such as the Chevrolet Cavalier coupe and the Venture minivan. Prices will rise at least 2 percent on popular equipped versions of these cars.
Auto makers are under increasing pressure to keep prices low since industry sales lag last year’s pace, and little growth is seen for next year. In recent months, more companies are offering incentives in hopes of attracting buyers.
