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The industry may need to cut costs to bring down stickier prices.
Every car has one, but what you actually pay may differ from this amount.
The new entry-level price for a new vehicle is $25,000, auto research site Edmunds says.
Demand for autos has been strong throughout the pandemic. But in recent months, demand has been softening, thanks in part to rising interest rates and elevated prices.
Prices are 3.3% lower than they were a year ago, and have been dropping every month for the last five months. Here’s why.
Those prices that spiked because of supply chain issues are starting to come down … just a bit.
New vehicle inventory is up an estimated 62% from last year as some supply roadblocks clear. But higher prices may stick.
Amy Harder at Breakthrough Energy describes her car-buying journey.
The average selling price of new vehicles reached a record high in late 2020. Last year also saw vehicle loan debt increase to record levels.
