New cars have gotten slightly cheaper
In January, the average new car in America sold for $46,404. That’s a decrease of $839 from December and the first time the average has dropped in more than a year.
“The surge in new-car prices appears to have peaked,” said Michelle Krebs, executive analyst for Cox Automotive. Cox Automotive is the parent company of Kelley Blue Book.
“While we expect vehicle supply to improve, it will continue to be tight, particularly through the first half of the year,” she said. “Because of this, we expect prices to remain high for the foreseeable future, but car shoppers can rest assured we don’t anticipate any more record highs.”
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