Are Cars Prices Going Down In 2025. We look at what might affect car prices this year. A new approach to determining coe supply, revised incentives for cleaner cars, and a maturing ev market:
Although prices are stable, they remain close to record highs. Overall, new car prices are down 1.4% since october 2022 and 3.5% since their peak in december 2022.
Will This Downward Trend Continue Into 2025 ?.
New car prices are 5.4% lower than the market peak in december 2022.
In Early 2025, Used Car Prices Are Holding.
Wholesale used car price trends.
Overall, New Car Prices Are Down 1.4% Since October 2022 And 3.5% Since Their Peak In December 2022.
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Low Inventory, High Demand And Elevated Interest Rates Affected Car Shoppers In 2023.
To get a sense of where used car prices are headed in 2025, we can look at the best leading indicator that we have:
In Late 2023, Retail Used Car Prices Eliminated The Yearโs Overall Gains, Returning To Where Prices Were When 2023 Began.
Inflation should be reducing through 2025 and although interest rates may be slow to come down, they will have passed their peak and are likely to be moving down.
In 2023 And 2025, Itโs The Reduced Supply Of Used Cars That Ensures Prices Will Remain Elevated.