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Car rating. Source: Created with the help of AI
Looking for the best deals, potential buyers carefully analyze the car market. In recent years, there has been little good news – average prices for both new and used vehicles have fluctuated, but only near record highs.
Analysts at Kelley Blue Book have pointed out that prices have been falling recently. The average transaction price in August was $47,870, slightly below the previous year's average ($48,126). Experts told us which cars could see their prices drop significantly in winter.
Erin Keating, executive analyst at KBB Cox Automotive, noted that in some cases, prices may drop significantly – especially for vehicles that are not selling well.
"In our latest dealer survey, the message about pricing pressure was very clear. Dealers are saying that sales are slow, and there is a growing likelihood of price cuts," Keating said.
The longer a car sits on the showroom floor, the more likely it is that the dealer will offer discounts and other benefits to make room for more current and popular models.
An important indicator when it comes to predicting a sharp drop in prices is the vehicle's market supply or MDS. According to CarEdge, MDS measures "the number of days it would take to sell an entire specific car model" based on current sales levels. A high MDS indicates an oversupply, which gives buyers leverage in negotiations.
Based on CarEdge's analysis conducted in September 2024, there is a possibility that prices for some cars could drop significantly this winter.
Mercedes-Benz GLC Class
- MDS: 448
- Total for sale: 1,584
- Total sold (previous 45 days): 159
Hyundai Kona Electric
- MDS: 393
- Total for sale: 646
- Total sold (previous 45 days): 74
Audi RS e-tron GT
- MDS: 360
- Total for sale: 600
- Total sold (previous 45 days): 65
Jeep Renegade
- MDS: 332
- Total for sale: 1328
- Total sold (previous 45 days): 180
Jeep Grand Wagoneer L
- MDS: 327
- Total for sale: 1328
- Total sold (previous 45 days): 183
Dodge Hornet
- MDS: 323
- Total for sale: 13 477
- Total sold (previous 45 days): 1879
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