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After a whirlwind of three years that saw car prices jump due to supply chain issues, one sector may be leveling off in consumer demand: fun cars.With an uncertain economy amid inflation and recession fears, 2023 should shape up to the year when used sports cars and convertibles cost less money.J.P. Morgan Research predicts used car prices will decline by about 10% in 2023. Higher interest rates are impacting affordability, the firms lead automotive research analyst Ryan Brinkman wrote in his study.As the economy is uncertain, consumers gravitate toward practical cars, said Tony Gabriele, a partner at four western New York auto dealership
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stanley cup k, and Auto Outlets USA, which focuses on used vehicles in Victor, New York.That means sporty cars may be found a
stanley cups uk t reasonable prices. A 2016 Mazda Miata convertible with just over 25,000 miles is currently priced at $23,500 at Gabrieles Webster Marina dealership. The catch is the buyer has to know how to drive a stick shift.Price fluctuationFor now, used car prices are dropping. But that may change if the 2023 economy slides into recession as shoppers will look for used cars instead of new ones.According to a January study by CoPilot, a car-buying app, used car prices fell for six consecutive months from July to December 2022. Thats a drop of 8.8 percent since January 2022. Mary Chao Gabriele said that new car inventory is improving, relieving supply chain issues Ruav Police: 10-year-old girl and 19-year-old seriously injured in shooting
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