Used cars

New-car production is finally starting to normalize, and thankfully, much of the increase in new-car inventory has a list price under $30,000.

The 2024 survey results indicate an increase of four PP100 vehicles year over year to an average of 190 PP100.

Cars Commerce surveyed consumers to see how these trends and more are likely to have the most impact on car shopping in 2024.

We found new EV inventory on Cars.com is up 316% year over year, with comparable EV demand down 8.2%.

Just when it looked like the whirlwind of used-car shopping had settled into a gentler breeze after a few months of falling prices, some signs indicate the storm hasn’t passed just yet.

Current auto loan rates have climbed substantially following the Fed’s recent interest-rate hikes, with the average new-car loan rate reaching 6.07% in the fourth quarter of 2022.

Chevrolet has announced that 2024 will mark the final year for the iconic Camaro in its current form, and the brand plans to send it off with a package called the Collector’s Edition.

Compared to last year’s results, the 2023 study showed an improvement in the overall dependability of three-year-old cars with an industry average PP100 score of 186, down from 192 in 2022.

All used Tesla models saw a steady drop in average prices among Cars.com dealer inventory over the last six months.

Many more EVs and plug-in hybrids are eligible for the federal tax subsidy of up to $7,500 — including vehicles built outside North America — as long as drivers lease them or buy used rather than buy new.