CarGurus Highlights Tax Season Car Buying Opportunities Amid Rising Prices
Event summary
- CarGurus released tax season car shopping tips on March 19, 2026, highlighting opportunities for buyers to stretch their refunds amid rising car and gas prices.
- Used car demand is increasing, with certain states offering better value and selection for affordable new and used cars.
- New car supply is at its highest since mid-2020, providing more negotiation room for shoppers on specific models like the Dodge Hornet and Jaguar F-PACE.
- Slowing demand for new EVs has led to significant price declines in models such as the GMC Sierra EV and Chevrolet Equinox EV.
The big picture
CarGurus' insights come at a time when the automotive market is experiencing shifting dynamics, with used car demand rising and new car prices remaining high. The company's AI-powered tools aim to help consumers navigate these challenges, while also highlighting opportunities in specific regions and vehicle models. This strategic positioning underscores CarGurus' role as a leading platform in the automotive shopping space.
What we're watching
- Market Dynamics
- How rising car and gas prices will affect consumer behavior and demand for used versus new cars.
- Regional Opportunities
- Whether states like Florida, Texas, and California can sustain their current value and selection advantages for car buyers.
- EV Market Trends
- The pace at which EV prices will continue to decline as demand slows and new models enter the market.
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