will car prices drop in 2023

Short answer: mostly yes for used cars; new-car stickers held firm, but the haggling returned as supply unclogged.

Through 2023 in Australia, used values eased roughly 5–15% from the pandemic peak, especially mainstream hatches and SUVs, while utes/4x4s were stickier.

New cars didn’t suddenly get cheap, but discounts and quicker delivery reappeared—base hatches typically from about AUD 25–30k, mid-size SUVs from AUD 40–55k.

Used buys became saner: decent small cars in the AUD 12–25k bracket and family SUVs around AUD 25–45k, with EVs seeing larger cuts as competition ramped up.

Rates, fuel and stock levels still set the mood, so bargains weren’t universal—but the 2021 “pay whatever” era was on the way out. For live pricing, browse Tradingpost and compare age, km and trim, then negotiate like you mean it.