The year 2020 was tough for all of us, and tragic for too many. In the automaking world, a deep slump in April, resulting from the first COVID-19 spike, has been followed by months of recovery.
According to Kelley Blue Book, average prices are 1.3% higher this November than they were in November 2019. But during the same period, prices of electric, high-performance and luxury cars, and luxury midsize SUVs, declined. Experts say now is the best time to buy. In December, dealers have “the largest inventories, with more vehicles from the outgoing model year on dealer lots,” observes the automotive website edmunds.com. “Automakers and dealerships want to close the year with strong sales. They also want to get rid of the prior model-year cars that are taking up space, so they're motivated.”