Automatic door prices have skyrocketed, according to a new study by a prominent financial firm.
The report from Credit Suisse Group AG said the average monthly price for an automatic door in the United States rose to $1,400 in the second quarter of 2017 from $1.071 in the first quarter.
It was the first time in three years that auto door prices increased.
The average monthly cost for a new automatic door was $1 at the end of the second quarters 2017.
“This is a new normal and we are seeing it across the board,” said Michael O’Sullivan, a senior vice president at Credit Suise.
The firm surveyed more than 2,000 people to estimate the average annual cost of owning a new auto door, and found that the average cost of a new door was up 11.5 percent in the past year to $3,907, according the company.
The increase was primarily driven by the introduction of new models and an increase in the number of new auto doors being purchased.
The cost of new doors jumped nearly 40 percent to $8,078, according credit card data from the data company Equifax.
A similar trend was seen in other developed countries, such as Germany and France.
In the United Kingdom, the average price of a door rose 5.5 times to $9,839, according data from Equifax and the data firm Credit Agricole.
The rise in prices also was driven by a rising number of owners purchasing new auto shutters.
“The trend has been a steady increase over the past three years,” O’ Sullivan said.
“We expect the increase in prices to continue for at least the next two years.”
The number of people who owned an automatic doors fell 2.7 percent to 6.8 million in the fourth quarter of this year, according research firm FBR.
The number who owned a standard auto door rose 3.5 million to 6 million.
The researchers also said the number who own a hybrid car grew by 1.2 million to 2.3 million, with the number buying a new car rising by nearly 3 million.
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