Since the start of this year, the automotive market has shown remarkable
strength with robust demand leading to higher prices for both new and
used vehicles compared to the previous year. The average price of a used
vehicle in March 2023 remained stable compared to last month, hovering
just around $39k, a 5% year-over-year increase. In contrast, new vehicle
prices hit a record high of just below $62k, representing a significant
17.4% year-over-year increase.

For a fulsome view of our latest AutoTrader Price Index, click here to get your copy of the report.