Kelley Blue Book: The big question about new car prices: When will they go down?

by | Nov 16, 2022 | Stock Market

Car shopping comes with rules. Rules like “the sticker price is just the starting point and negotiate down from there” and “cars are cheapest at the end of the month and end of the year.” That rule book got thrown out in the last two years. Shoppers grew accustomed to paying more than MSRP, or the manufacturer’s suggested retail price. They watched prices rise steadily, with no cyclical drops. The end of well-established patterns leaves many car shoppers scratching their heads. The question we get most is, “When will new car prices drop?”

The answer is more than a little complicated. In some cases, new vehicle prices already started to decline. In others, they may not drop for the foreseeable future. The new world of car shopping requires an open mind and new skills. Brian Finkelmeyer of Cox Automotive likens shopping for a new vehicle to this quote from science fiction writer William Gibson: “The future is already here. It’s just not evenly distributed.” Finkelmeyer is the senior director of new-vehicle solutions at Cox Automotive, the parent company to Kelley Blue Book. In this story, we’ll explain how to navigate the new patterns of car buying and dealership pricing, so if you’re in the market to purch …

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