Prices of new and used vehicles have risen stratospherically over the last several years, putting many drivers who would normally be shopping for new or lightly used wheels in a bind. December saw average purchase prices of new vehicles at $48,759 per, according to Kelley Blue Book, the industry standard.
Believe it or not, the price guide considers that a “buyer’s market,” or at least progress on the road toward one. The December price was up from the previous month but down from the high rubber mark set in December 2022. That marked the fourth straight month of year-over-year declines.
“When we look at price strength, the pandemic created a seller’s market in which new vehicles were transacting above manufacturers’ suggested retail price