Car prices have been climbing for years. In September, Kelly Blue Book reports, the average transaction price of vehicles reached $50,000 for the first time ever. This was partly due to consumers rushing to purchase more costly electric vehicles (E.V.s) before federal tax incentives ran out, and the average transaction price has fallen slightly since then. But it remains stubbornly high, hitting $49,766 in October.
President Donald Trump's trade wars certainly haven't helped automobile consumers. But on Wednesday, his administration did something that could actually bring car prices down: It moved to loosen the federal government's Corporate Average Fuel Economy (CAFE) standards.
