Vehicle inventory is improving, but affordability remains an issue ...

Sep 17, 2024 · At the same time, the used vehicle market is also facing affordability shortages. Used car prices have declined by 6% since July 2023, and inventory has increased by 1% in the past year because of cars priced below $30,000. But the market remains short of low-mileage …

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Vehicle Inventory Is Improving, But Affordability Remains An Issue ...

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automotivedive.com

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Affordability Is On The Rise As New-Car Prices Dip Below $49K For …

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Mar 14, 2024 · The share of entry-level new cars is on the rise. Market share for vehicles under $30,000 increased for the second straight month, from 13% to 14%, after months of stagnating …

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Car Prices Are Finally Falling. 2 Reasons Why People Still Aren't ...

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Sep 11, 2024 · Owners are instead holding onto their vehicles longer, potentially as they wait out for affordability to improve. The average age of US vehicles jumped 40% between 2001 and …

businessinsider.com

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CarGurus Releases 2024 Recap & 2025 Outlook, Highlighting

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Dec 12, 2024 · The pivot to affordability played a role in the surge of new vehicle inventory, which increased by nearly 31% since the end of 2023 as prices hovered at an average of $49,000 …

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Car Dealers Have So Much Inventory That They’re Dropping Prices

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In other words, car prices are falling as the number of cars on dealers’ lots rises. New vehicle inventory currently stands at 2.66 million units, according to Cox data, which is a 49% increase ...

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FAQs about Vehicle inventory is improving, but affordability remains an issue ... Coupon?

How does new-vehicle inventory affect used cars?

In turn, more new-vehicle inventory also makes more used cars available, when consumers trade in their used cars. The ongoing vehicle inventory shortage the last couple of years has driven average transaction prices to record or near-record levels. That has very nearly priced consumers with subprime credit out of the new-vehicle market entirely. ...

Will new car inventory increase in 2025?

While inflation is cooling, sticker shock and affordability in the auto market remain key challenges for 2025. The good news is that new car inventory priced under $30,000 is increasing, offering some relief for buyers and a bright spot for the year ahead.” ...

Why are used car prices dropping?

Used car inventory and prices are dropping as new car inventory rises. “More new-car inventory means more new-car sales, which means more trade-ins, increasing used-car inventory and bringing prices down — and that’s just what we’re seeing,” said Rebecca Lindland, senior director of industry data and insights at Cars Commerce. ...

Are dealers offering incentives to unload used cars?

Dealers are offering incentives to unload them since 2025 cars are coming out, he said. Some of the incentives could help counter lofty monthly payments. Used car inventory and prices are dropping as new car inventory rises. ...

Why are new car prices on the decline?

New car prices are on the decline as the highest inventory levels in years force dealers and automakers to reduce their margins. The average price of a new vehicle was $47,401 in January, which is a 2.6% drop from the average price in December of $48,652, according to Kelley Blue Book data. ...

Why are new-car shoppers buying late-model used cars?

Not only that, many new-car shoppers have been buying late-model used vehicles if the new vehicle they want is out of stock. Demand from customers with good credit has driven up used-car prices, too. ...