will new car prices drop in 2024 australia

Short answer: prices didn’t fall off a cliff in 2024, but the winds finally shifted in buyers’ favour.

New cars: supply improved, EV price wars heated up, and dealers brought back sharper drive-away deals and run-out bonuses—often worth a few thousand AUD on mainstream models, with premium stuff still playing hard to get.

Used cars: the froth came off pandemic highs, with many segments easing roughly 5–15% from peak, especially bread-and-butter SUVs and utes.

Expect more negotiating room, better finance offers, and actual choice on the lot—what a novelty.

If you want the best value, shop end-of-quarter, look at run-out plates, and cross-shop EVs and hybrids where competition is fierce.

In short, no crash—just a sensible correction and a few wins for your wallet.