Car Prices Are Beginning To Dip Back To Normal But Has The Damage Already Been Done?

The average transaction price of a new car sold in the U.S. has fallen yet again, meaning new car buyers are finally starting to get some reprieve. However, buying a new car in the U.S. remains a costly endeavor.

 

Data from Cox Automotive reveals that the average transaction price (ATP) for a new vehicle sold in September was $47,899. This represents a fall of $360 or 0.7% from September last year and is down $227 (0.5%) from August. The ATP in August 2023 had originally been forecast at $48,451 but it was later downwardly revised to $48,126.