Cars.com-Cars Commerce April Industry Insights Report Reveals New-Car Inventory Up 35% YoY but Remains a Million Units Below 2019 Levels With Prices Up 30% in the Same Time Frame

Gradual improvement in new inventory and consumer demand: The average new-car price remains stable at approximately $49,111, down slightly by 1.5% year over year — although prices are higher than before the semiconductor shortage, there's a notable effort by automakers to introduce more vehicles priced under$ 30,000, which have seen the most market share growth so far in 2024. As new-car inventory levels increase by 35% compared to 2023, consumers are experiencing fewer pressures to compromise on their vehi ...