Cars.com’s second annual Affordability Report paints a picture of a retail environment in the United States that is now more accessible to consumers than it has been in months or even years.
The report found that new vehicle supply in the U.S. is rebounding, with the under $30,000 category having grown the fastest. Inventory was up 77% year-over-year, though figures are still lower than 2019 levels. The company considered 85 new vehicles for its 2024 report, with half of the models falling below the $30,000 mark.
“While prices are down, they’re still nowhere near pre-pandemic levels,” said Stef Schrader, News Editor at Cars.com, in a statement. “The good news is there is inventory available and an increasing number of affordable options — and consumers with a high-quality trade-in to offer are in an even better position to buy within their budget.”
The company said the models that are listed as finalists offer a suite of popular options that consumers want with an overall, heavy focus on safety technology. This includes items that help keep running costs low. Also considered were median list prices and annual fuel costs.
See the chart below for the full list of finalists, including model and trim level:
