2023 Inflation

2023 Inflation

With improving vehicle inventory across much of the country, new car prices appear set to go down in 2023. However, it could take even longer for new car prices to go back to normal since some automakers are choosing to make certain practices that they adopted during the chip shortage permanent. The average price paid for a new vehicle last month reached $48,281, resulting in an estimated monthly payment of $748 and a new record high. The Federal Reserve is also signaling that interest hike rates may continue to help fight high inflation that has made everyday goods less affordable.