Car prices are cooling, but should you buy new or used? Here are pros and cons. [USA TODAY]
Cars.com Inc. (CARS)
Last cars.com inc. earnings: 2/26 07:30 am
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Source: USA TODAY
Yes, prices have come down from their pandemic peaks but if you haven't walked into a dealership since early 2020, the prices you see will be “eye-popping,” said Pat Ryan, chief executive of CoPilot, an AI-assisted car-shopping app. New car prices are up 29% since March 2020 and used car prices up 34% since March 2020, both outpacing overall inflation of 23%, he said. If you can accept that higher car prices are simply “the new normal,” Ryan maintains that the next several months will be prime buying season, with new cars providing the best value if you can afford it. “Used (cars) can only go down so far because during the pandemic, we produced 10 million less cars than we normally would,” Ryan said. On the other hand, automakers are churning out more cars with supply chains normalizing. High prices are the ‘new normal' Car prices have eased recently, but no one should expect them ever to return anywhere close to pre-pandemic levels, car experts say. “These prices are in a
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CARS
Earnings
- 2/22/24 - Miss
CARS
Sec Filings
- 4/19/24 - Form ARS
- 4/19/24 - Form DEFA14A
- 4/19/24 - Form DEF
- CARS's page on the SEC website