Auto prices finally begin to creep down from inflated highs
Average prices on new and used vehicles have begun easing from their record highs, and more vehicles have become available at dealerships
By TOM KRISHER
Published - Oct 27, 2022, 11:29 AM ET
Last Updated - Jun 24, 2023, 12:22 AM EDT
DETROIT (AP) — All summer long, Aleen Hudson kept looking for a new minivan or SUV for her growing passenger shuttle service.
She had a good credit rating and enough cash for a down payment. Yet dealerships in the Detroit area didn't have any suitable vehicles. Or they'd demand she pay $3,000 to $6,000 above the sticker price. Months of frustration left her despondent.
“I was depressed,” Hudson said. "I was angry, too.”
A breakthrough arrived in late September, when a dealer called about a 2022 Chrysler Pacifica. At $41,000, it was hardly a bargain. And it wasn’t quite what Hudson wanted. Yet the dealer was asking only slightly above sticker price, and Hudson felt in no position to walk away. She's back in business with her own van.
