Are Used Car Prices Going To Drop In 2024. Bureau of labor statistics, its used car index, which tracks used car prices, has risen by well over 40% from december 2019 to october. In early 2024, used car prices are holding steady, even as new car prices drop quickly.
Revealing a 2.1% fall in trade used car prices for. Used car shortage ‘puts a floor’ on depreciation.
That Would Compare With 1.1.
Hybrid and ev prices remain elevated above the overall market, but the gap is narrowing.
7:51 Am, January 24, 2024.
What you need to know about current car prices in july 2023, the average transaction price was 33.7% higher for new cars and 45.7% higher for used cars.
While The Expected Drop Will Spell Relief For Shoppers.
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Our Panel Was Asked Whether They Thought Used Car Prices Will Drop In 2023 And To Predict How The Second Hand Car Market Might Perform In 2024 Too.
Used car prices in 2024 are likely to begin to stabilise after the dramatic drops seen in the last three months.
Are Used Car Prices Dropping?
Car prices will likely continue to decrease.
The Average Transaction Price For An Electric Vehicle Is Now 16.7% Higher.