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New Car Prices Slowly Decline

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New Car Prices Slowly Decline

B
Benzinga

367 Views • Nov 11, 2022

Description

New car costs are gradually lowering to the manufacturer’s suggested retail prices. For the first six months of this year, new car prices averaged $700 over the MSRP, and over the past few months, prices have fallen to about $230 over MSRP on average. Vehicle inventory shortages and slowdowns in the supply chains for parts have given car dealers more negotiating power and prompted them to raise prices.