6 Car Models That Will Have Massive Price Drops This Winter

Car shoppers hunting good deals haven’t had much joy in recent years, as average prices for both new and used vehicles have hovered near record highs. Prices for new cars “have continued to fluctuate” in 2024, according to Kelley Blue Book, though they have seen a recent dip . The average transaction price was $47,870 in August — slightly below the previous year’s average of $48,126.

Check Out: 9 Best and Affordable Cars for High-Mileage Adventures

For You: 9 Easy Ways To Grow Your Wealth in 2024

“In our latest dealer survey, the message about price pressure was very clear,” Erin Keating, executive analyst at KBB parent Cox Automotive, said in a statement. “Dealers are telling us the sales environment is humming along at a muted pace, and there is growing pressure to lower prices.”

That should be welcome news to consumers who’ve been hit with sticker shock for too long. In some cases, prices could be slashed considerably — especially for vehicles that are not selling well. The longer a car sits on the lot, the more likely the dealer will be to offer discounts and other perks to move it off the lot and make room for something trendier.

An important metric when it comes to predicting steep price drops is a car’s market day supply, or MDS. According to CarEdge, the MDS measures the “number of days it would take to sell all of a particular model of car” based on the current sales rate, assuming no additional inventory is added.” A high MDS suggests an oversupply, which gives buyers leverage to negotiate.

Take a look at these six car models that could see big price drops this winter based on CarEdge’s September 2024 analysi s of market day supplies, inventory and sales data. Then check out five more cars poised for price reductions this fall.

Money mistakes the super wealthy never make - that you might be doing now.

Mercedes-Benz GLC Class

• MDS: 448
• Total for sale: 1,584
• Total sold (previous 45 days): 159

Explore More: 8 Best Luxury Cars for Wealthy Retirees

Hyundai Kona Electric

• MDS: 393
• Total for sale: 646
• Total sold (previous 45 days): 74

Audi RS e-tron GT

• MDS: 360
• Total for sale: 600
• Total sold (previous 45 days): 65

Jeep Renegade

• MDS: 332
• Total for sale: 1,328
• Total sold (previous 45 days): 180

Jeep Grand Wagoneer L

• MDS: 327
• Total for sale: 1,328
• Total sold (previous 45 days): 183

Dodge Hornet

• MDS: 323
• Total for sale: 13,477
• Total sold (previous 45 days): 1,879

This article originally appeared on GOBankingRates.com : 6 Car Models That Will Have Massive Price Drops This Winter