Over the past two years, the automotive market has faced a number of challenges due to the COVID-19 pandemic, resulting in negative news for car buyers.
However, things are starting to change and the market is starting to normalize. It is important to note that the market is still complex and can change quickly, so it is essential to stay informed and do your research before making a decision. New car buyers may still face challenges, but used car buyers are in a better position as prices tend to fall. It is important to keep in mind that buying or selling a car is a big decision and should be made carefully.
While the market may improve, it's still important to research the specific make and model of car you're interested in, as well as car prices and availability in your area. If you are considering trading in your current car, it is important to understand its current value and how it may be affected by market trends. Our analysts expect new car prices to see some relief in the second half of 2023, but the market remains unpredictable.
So, does that mean it's time to change cars or buy a new or used car? It depends on your personal situation and what you are looking for in a car. It is important to weigh the pros and cons and do some research before making a decision. Keep in mind that interest rates may continue to rise over the next few months.
Additionally, if you're considering selling or trading in your vehicle, it's important to stay informed of current market trends in order to get the best possible deal. Stay tuned.