New-Car Transaction Prices Haven’t Been This Low For Nearly Two Years
The scars from all that pandemic-era price gouging are healing up and we’re getting back to a level market where Americans can buy a new car without feeling like they’re being scammed. The latest sales data shows that new-car transaction prices are at the their lowest level for almost two years.Figures from Kelley Blue Book reveal that the average new car costs its buyer $47,218, down 1 percent on the same period last year – despite strong inflation in the early part of 2023 – and down 5.4 percent on the market’s high point in December 2022.