CHARLOTTE, N.C. — Car prices are finally coming down, but some experts say we shouldn't expect those prices to ever get back to pre-pandemic levels.
Car prices are the best we’ve seen in years, but they're not going to get any better.
Let's connect the dots.
Kelly Blue Book says the average price paid for a new car right now is $47,000. That’s down 2% from the same time last year. It’s also the lowest average cost we’ve seen since March 2022.
Make no mistake, cars are still generally more expensive. But as inventories replenish, dealerships and manufacturers are now more likely to offer buyers some incentives, like rebates or discounts.
The floor isn’t getting any lower though. Right now, there is a major used car shortage because fewer cars were produced during the pandemic.
Until that changes, new cars can only be offered for so little, or else they run the risk of being less expensive than their used equivalents.
WCNC Charlotte To Go is a daily news and weather podcast you can listen to so you can start your day with the team at WCNC Charlotte.
SUBSCRIBE: Apple Podcasts || Spotify || Pandora || TuneIn || Google Podcasts || iHeart
All of WCNC Charlotte's podcasts are free and available for both streaming and download. You can listen now on Android, iPhone, Amazon, and other internet-connected devices. Join us from North Carolina, South Carolina, or on the go anywhere.