Drop in interest rates, car prices may increase sales

DETROIT– As new and used car prices continue to drop and there's talk of the Federal Reserve lowering interest rates, some people might be considering buying that new or used vehicle they've put off for a while. According to Edmunds.com data, the average transaction price of $47,616 for June was down 0.7%, or about $330, from $47,946 in June 2023.