Charted: Driving a record gap

The average price of new vehicles is now more than $20,000 above that of used rides, marking an all-time high, according to data released today by car research site Edmunds.

State of play: Used vehicle prices have been falling at a faster pace than new vehicle prices as inventories normalize following pandemic disruption.

• Used vehicle prices are down from their high in the second quarter of 2022, a time when inventories were at rock bottom and used vehicles were briefly increasing in value.

Yes, but: Cheap used cars are in high demand.

• Vehicles priced under $10,000 are the hottest on the market, selling in an average of 31 days.