Used Car Prices Dropping 2024. Used car prices are likely to stay “structurally higher” because fewer new cars were produced during the pandemic due to shutdowns and chip. As the data above shows, retail car prices are slowly but steadily dropping.
While online shopping has made it easier to access inventory from across the country, that inventory isn’t as plentiful. Despite predictions that used vehicle prices will drop in 2024, right now prices are still higher than ever, partly due to limited supply caused by.
Consumers In Search Of A Used Car Will Find A Mixture Of Good News And Bad News In 2024.
Are used car prices dropping?
New Car Prices Have Been Falling For Most Of 2023, With The Average New Car Selling For $47,936 In October, Kelley Blue Book Reported.
We track the prices of millions of used cars yearly.
While Online Shopping Has Made It Easier To Access Inventory From Across The Country, That Inventory Isn't As Plentiful.
Images References :
Data From Financial Intelligence Firm.
Car shoppers are saying no to ridiculously high prices, especially as interest rates remain high.
Used Car Prices Have Fallen 13.7% Since April, According To Figures From Trade Pride Experts Cap Hpi, And They Are On Track To Fall A Further 4% At.
The average cost of a new car is $49,447 this month, and $31,556 for a used car — up 29% and 34%, respectively, over march 2020, according to.
