10 Car Models Poised For Substantial Price Decreases In October 2023
"Changing Tides in the Auto Market: New and Used Car Price Trends for October 2023"
Recent data from Cox Automotive, the parent company of Kelley Blue Book, highlights the dynamic shifts in the automotive market. Wholesale used vehicle prices have seen a 1% increase between August and September. However, new car prices have experienced a $60 drop over the past month, settling at an average of $47,397, which is still 3% higher than the same period last year.
The UAW strike, despite its initial impact, has yet to influence new car prices significantly. According to Cox Automotive's chief economist, Jonathan Smoke, the strike's effects might become more apparent in October. Automakers prepared for the strike by accumulating a substantial inventory of new cars, the highest since early s...