There Are Only 3 New Cars Priced Under $20,000 Now
View Source | May 3, 2023 3:10 pm
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- New vehicle sale prices fell below MSRP in March for the first time in nearly two years as supply chain issues continue to ease up, but cars and trucks are still far from cheap.
- The average price paid for a new vehicle was $48,008 in March, according to Kelley Blue Book, a drop of $550 from the prior month.
- “We’ve been anticipating transaction price declines, as inventory has been steadily improving and choice has expanded. More vehicles on dealer lots — and on their competitors’ lots — means dealers simply don’t have the pricing power they did six months ago,” said Rebecca Rydzewski, Cox Automotive research manager of economic and industry insights.
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