Bonnie Maurizia

Car Market Crash 2024. The latest data from cox automotive shows that new car transaction prices continue to fall, and with more affordable new cars, the used car market is under downward. Since 2018, new car prices have soared 32% on average.

In 2023, car prices were expected to decline by about 2.5% to 5% for new cars and approximately 10% for used cars. Car prices are falling back down to earth in a steady decline from 2021 peaks.