Auto prices are cooling, but 'we're never going back to the old normal,' expert says. Here's what car shoppers can expect

Prices are beginning to come down for peak highs for both new and used cars, but we might never go back to pre-pandemic era norms, experts say.

"We have this structural move now in both new and used car prices that are making consumers eyes pop out," he said.The underlying components built into new cars, like technology, as well as high labor costs, are keeping prices high, Ryan said. However, newer used cars, or those up to three years old, are depreciating, because they are directly correlated with the recovered inventory of the new car market, Yoon said.Older cars, or those between five to seven years old, are still holding onto pandemic-era values because of low supply, he said. As there are fewer, older cars available, the high demand keeps prices elevated.

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