The pandemic may have changed car shopping in the U.S. for good
The balance of power may have shifted away from buyers, putting dealers and makers in more control
October 17, 2022
Don't expect car prices to drop significantly any time soon.
Instead, new-vehicle prices - already at record highs - will remain elevated, automotive experts say. At the same time, used-vehicle pricing should moderate as the Federal Reserve continues raising interest rates to curb inflation.
Analysts are closely tracking vehicle demand, with consumer sentiment low amid signs of a worsening economy and a resurgence in gas prices.