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The market fornew carsis finally starting to turn in favor of individual buyers at least,according to CarEdge.
Is an Actual New Car Price Crash Coming in 2025?
CarEdge CEO Zach Shefska recentlytook to YouTubeto explain why new car prices could end up crashing next year.
Car prices are going to crash in 2025, Shefska said.
Dealers are starting to discount heavily and manufacturers are picking up their incentives.
Overall, average transaction prices remain about $10,000 higher than five years ago, before the COVID-19 pandemic.
Thats a lot of ground to reclaim, though.
Will new car prices actually drop in 2025?
Two reasons they could are presented below.
Further, citing Cox data, KBB indicated inventory levels currently represented 84 days of supply.
Thats also the highest figure seen since 2019.
Automakers are more keen to increase incentives rather than lowering MSRPs for all.
Cox Automotive chief economist Jonathan Smoke reiterated this prediction in a statement cited by KBB.
I expect the best time for lower rates will be by the spring, Smoke said.
[Buyers] could see 1-1.5 points of further improvement, more on used vehicles, he added.
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