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Were always wondering, Will cars get cheaper?
Singh brought a personal element to this post, sharing that he just bought a new Toyota Rav 4.
Lets dig into his thoughts on whethercar prices will drop this year.
Are they faring alright?
The answer here provides a big clue, but it is not a straightforward one.
How car companies are faring is all over the place.
Some car companiesare struggling to make money, Singh said.
Some car companies are getting worried about the potential tariffs.
And some car companies are booming.
Some of that depends on whats going on internally at auto manufacturers.
That said, there are some big hints that prices will go down a bit overall.
In classic economics style, demand went up and supply went down, resulting in higher prices.
The opposite happens when a dealer doesnt have a lot of inventory.
Its skyrocketed since 2019.
According to Edmunds, the average new car in America is selling for $47,452, Singh said.
Thats a reported increase of 23 percent.
So, car prices will probably go a little bit in 2025.
But will they become affordable?
Thats a whole nother beast.
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