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Bloomberg Intelligence Global Director of Automotive Research Kevin Tynan |
For consumers who have been out of the market since the pandemic, they might me be somewhat alarmed. The question everyone seems to be asking is when will new car prices begin to slide in reverse. This week on Auto Trends with JeffCars.com, Bloomberg Intelligence's Kevin Tynan, who is also known as a senior auto analyst, joins us to recap the first quarter sales, while discussing vehicle affordability.
After a C-Suite Toyota executive announced in 2023 that the average price of a new vehicle would top $50,000, we'll deliberate about where average transaction prices are currently in 2024, as we examine non luxury, luxury and fully electric vehicle prices, as compared to 2021, when consumer demand outstripped inventory.