These are car prices in the United States

The United States Bureau of Labor Statistics recently released a statistic on the cost of automobiles. Both new and used cars recorded higher rates this year than they were three years ago.

Economic analysts believe that 2023 has become the worst time to buy a car in decades. However, inflation has shown a decrease in levels from its peak in July 2022.

Another positive factor is the increase in spare parts production. But car quantities are decreasing slightly in relation to the decline in inflation. Although positive symptoms are observed, vehicle values ​​remain above rational prices.

Taste of the Americans

The record cost in the current year for a new car is $12,000.00. Used Cars has a figure of $9,000.00, which puts it at the highest level for the past five years.

Edmunds.com Communications Director Evan Drury reports that car prices are high in nearly every state in the country. Edmonds’ study revealed that Americans are currently interested in larger, more expensive pickup trucks.

This American taste encouraged factories to produce more cars in the form of trucks. In the previous year, these vehicles were priced at $62,430.00.

Drury added that the used car business faces another difficulty, which is the competition with car rental companies. In addition, CEO Edmunds expected this situation to continue in the same direction in the coming months.