The 20 Cars Seeing the Biggest Price Drops in 2024

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Back in 2022, when new car prices peaked, it was hard to predict if and when prices would soften, according to J.P. Morgan. Fortunately, the time of lower prices on new cars has finally arrived. 

In March 2024, the average transaction price for a new vehicle was $47,218 — a 5.4% decline from the peak in December 2022 and a 1% drop from March 2023, according to Cox Automotive. 

Intriguingly, some new car models are seeing more significant price reductions than others. A recent analysis from CarEdge delved into which car brands have seen the biggest drop in prices in 2024 so far, as compared to December 2022. 

Here they are the cars that had the biggest drop in price, ranked in order from lowest to highest from December 2023 to March 2024.

Infiniti

• December 2023 average price: $59,839
• March 2024 average price: $57,781
• Price drop percentage: -3.44%

BMW

• December 2023 average price: $71,943
• March 2024 average price: $69,467
• Price drop percentage: -3.44%

Kia

• December 2023 average price: $35,456
• March 2024 average price: $34,184
• Price drop percentage: -3.59%

Honda

• December 2023 average price: $36,597
• March 2024 average price: $35,242
• Price drop percentage: -3.70%

Lincoln

• December 2023 average price: $65,236
• March 2024 average price: $62,768
• Price drop percentage: -3.78%

Audi

• December 2023 average price: $65,355
• March 2024 average price: $62,826
• Price drop percentage: -3.87% 

Buick

• December 2023 average price: $37,661
• March 2024 average price: $36,066
• Price drop percentage: -4.24%

Mercedes-Benz

• December 2023 average price: $78,165
• March 2024 average price: $74,741
• Price drop percentage: -4.38%

Chrysler

• December 2023 average price: $50,621
• March 2024 average price: $48,134
• Price drop percentage: -4.91%

Dodge

• December 2023 average price: $55,264
• March 2024 average price: $48,306
• Price drop percentage: -12.59%

Jaguar

• December 2023 average price: $73,727
• March 2024 average price: $70,020
• Price drop percentage: -5.03%

Mitsubishi

• December 2023 average price: $31,637
• March 2024 average price: $30,010
• Price drop percentage: -5.14%

Nissan

• December 2023 average price: $34,502
• March 2024 average price: $32,682
• Price drop percentage: -5.28%

Hyundai

• December 2023 average price: $37,308
• March 2024 average price: $35,310
• Price drop percentage: -5.36%

Chevrolet

• December 2023 average price: $48,748
• March 2024 average price: $44,240
• Price drop percentage: -9.25%

RAM

• December 2023 average price: $66,987
• March 2024 average price: $63,159
• Price drop percentage: -5.71%

Jeep

• December 2023 average price: $54,434
• March 2024 average price: $50,887
• Price drop percentage: -6.52%

GMC

• December 2023 average price: $66,706
• March 2024 average price: $62,154
• Price drop percentage: -6.82%

Ford

• December 2023 average price: $55,614
• March 2024 average price: $51,526
• Price drop percentage: -7.35%

Cadillac 

• December 2023 average price: $73,239 
• March 2024 average price: $67,636
• Price drop percentage: -7.65%

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