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The average price of a new car has climbed steadily over the past couple of years. Due to supply chain issues during the pandemic, car prices went up -- and never really stopped. See: 25 Sneaky Car...
“Last month, the average price for a new vehicle was [$47,936] — a [1.4%] dip from last year, according to the latest KBB data. This suggests that new car prices might drop in 2024.”
In May 2023, new vehicles cost 4.7% more than they did the previous year, according to government data. That same government data shows new car prices are down 0.8% from a year ago.
Data showed consumers increasingly favor SUVs and pickups. Yet many say they'd consider a smaller vehicle to save money.
“We can tell you that new vehicle price inflation has almost disappeared this year,” the report said. More From GOBankingRates. Jaspreet Singh Shares 5 Ways To Grow $10k to $100k in Three Years.
New Car Market: Ford, Tesla Drop Prices by Up To 20% Thanks To Millions of Unwanted EVs More: How to Get Cash Back on Your Everyday Purchases. The average price paid for a new, non-luxury vehicle ...
Car prices are declining across the board. According to Kelley Blue Book, average transaction prices are down 2.4%, or $1,212, from the start of the year -- the biggest decrease in a decade. The...
As of September 2024, the average transaction price (ATP) of a new car was $48,397. A year prior, it was $48,615. Here are six vehicles projected to potentially decrease in value by the end of 2025.
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