New Car Prices Drop as Inventories Rise and Automakers Offer Discounts

Car prices are cooling after years of inflation, with average prices dropping from $50K to 25% above pre-2020 levels.
New car inventory has risen from 1.75M vehicles in January to 2M in June, helping ease shortages.
With mounting inventory, automakers are offering big discounts, especially on EVs with over 100 days' supply.
Luxury brands like Land Rover and Mercedes have dropped prices by thousands amid waning demand.
Experts project continued price declines into 2023 as supply outpaces demand, with prices down 2.4% already this year.

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Posted 9/25/2023, 2:36:38 PM