New Car Prices are Down in Historical Terms, A Lot

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I know so many of us in the transportation industry strive to get people to ride bikes and transit and other modes. However, we are facing one unambiguous fact: new car prices are low – really low! It turns out that it’s not just the dealer telling you that on the radio – they really are low in comparison to historic terms. I did some digging into some inflation numbers, and it turns out that cars as of July 2013 are about 30 percent less expensive than they were in January 1998, when you account for inflation.