21/08/2024
The AutoTrader Price Index is showing a drop in car prices, signifying the first time new car prices have declined month-over-month since February 2021, while used car prices continue to decline as well.
In December 2023, the average price of a new vehicle stood at $67,259. That’s up a substantial 14.2 per cent from the same month a year before, but the figure has been slowly and steadily falling. Prices were down 0.4 per cent in October, 0.1 in November, and 0.3 per cent in December after reaching record highs in September.
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Used car prices tumble again in December – but will begin to stabilize in 2024 – Car Dealer Magazine
18/04/2024
Used car prices in 2024 are likely to begin to stabilize after the dramatic drops seen in the last three months.
Revealing a 2.1% fall in trade used car prices for December, Cap HPI director of valuations Derren Martin gave Car Dealer his predictions for the year ahead.
The December fall means trade used car prices have now dropped 10.5% in the last quarter of 2023.
Speaking to Car Dealer in an exclusive video interview (above), Martin said the December figures were among the worst on record, but were still a significant improvement on the previous two months.
Martin said:…