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New vehicle sale prices fell below MSRP in March for the first time in nearly two years as supply chain issues continue to ease up, but cars and trucks are still far from cheap.
The average price paid for a new vehicle was $48,008 in March, according to Kelley Blue Book, a drop of $550 from the prior month.
"We’ve been anticipating transaction price declines, as inventory has been steadily improving and choice has expanded. More vehicles on dealer lots — and on their competitors’ lots — means dealers simply don’t have the pricing power they did six months ago," said Rebecca Rydzewski, Cox Automotive research manager of economic and industry insights.
Prices are expected to continue their downward trend, but are unlikely to reach the $37,736 average they were at in March 2020 anytime soon, if ever again.
CONSUMER REPORTS SAYS THESE ARE THE BEST CAR INSURANCE COMPANIES
The average new car transaction price was over $48,000 in March. (Brandon Bell/Getty Images)
That is partly due to inflation, but also because many automakers have been focusing on building more of the most profitable high-end trims and discontinuing their lowest-priced models altogether.
The most inexpensive vehicle offered by an American brand is the new 2024 Chevrolet Trax SUV, which is $21,495, following the end of production for the $14,595 Chevrolet Spark hatchback last year.
Along with cuts by other brands, there are only three vehicles left on sale with starting prices including delivery fees below $20,000.KIA RIO/RIO5
The Kia Rio is the brand’s smallest sedan. (Kia)
The Kia Rio subcompact sedan starts at $17,875 and the Rio5 hatchback at $18,515.
Both front-wheel-drive models come standard with a 120 hp four-cylinder engine, automatic transmission, air conditioning and a highway fuel economy rating of 41 mpg.MITSUBISHI MIRAGE/MIRAGE G4
The Mitsubishi Mirage is the most fuel-efficient car that is not a hybrid. (Mitsubishi)
The Mitsubishi Mirage hatchback starts at $17,340 and the Mirage G4 sedan is just $1,000 more.
GM DITCHING CHEVY BOLT, SHIFTING TO ELECTRIC TRUCKS
The Mirage's claims to fame are that it is the least-powerful new car on sale in the USA — its three-cylinder engine rated at just 76 horsepower — and the most-efficient non-hybrid vehicle, with the hatchback getting an EPA combined rating of 39 mpg.NISSAN VERSA
The Nissan Versa is the cheapest new car on sale today. (Nissan)
The Nissan Versa sedan is priced at $16,925. It is roomy for the price and has a relatively potent 122 hp four-cylinder under the hood, a standard 5-speed manual transmission, automatic emergency brakes and a five-star NHTSA crash test rating.
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Models equipped with an automatic transmission start at $18,595 and have a 40 mpg highway fuel economy rating. A fully-loaded version with adaptive cruise control, heated seats and a wireless charging pad tops out at $20,215.
NEW YORK — Mike Sullivan coached the Pittsburgh Penguins for 10 seasons, leading them to two Stanley Cup championships. On Tuesday night at Madison Square Garden, he watched them ruin his debut as the New York Rangers‘ latest head coach.
Sullivan admitted it was a peculiar feeling having Sidney Crosby, Evgeni Malkin, Kris Letang and others he coached in Pittsburgh suddenly become his opponents.
“I mean, obviously it’s different. It’s different. I knew that was going to be the case,” he said after Pittsburgh’s 3-0 victory on the opening night of the 2025-26 NHL season. “But I’m excited about the group we have here in front of me with the Rangers. I’m looking forward to working with this group.”
The Rangers were shut out by goalie Arturs Silovs (22 saves) and watched forward Justin Brazeau score two goals in the Penguins’ win. They were outshot 15-5 in the third period and couldn’t muster anything consistent offensively in Sullivan’s debut.
“Well, I think my first observation is we got a long way to go to become the team we want to become. Some of it I think we can iron out, but certainly we’ve got a ways to go,” said Sullivan, who will coach Team USA in the 2026 Winter Olympic men’s hockey tournament in Italy. “I’m not going to overreact to it. It’s one game. We’ve got a lot of hockey to play,” he said. “So is it disappointing? Yeah. We’re going to see what we can take from it. We’ve got to move on.”
Sullivan and the Penguins agreed to part ways in April despite his being under contract through the 2026-27 season. Hired in 2015-16, Sullivan was the franchise’s most successful coach with 409 wins, only the 14th coach in NHL history to win 400 games with one team. Pittsburgh won back-to-back Stanley Cups in 2016 and 2017 with Sullivan.
Days later, after he left the Penguins, Sullivan was hired by the Rangers to replace coach Peter Laviolette, signing a five-year contract that made him the NHL’s highest-paid coach. Sullivan, 57, had previously served as an assistant coach with New York from 2009 to 2013, during which time he coached Rangers GM Chris Drury as a player.
Penguins captain Crosby acknowledged it was a different feeling having Sullivan behind the Rangers’ bench instead of his.
“I just go out there and compete, but it’s always weird that first little bit,” he said.
For Crosby, it wasn’t just seeing Sullivan coaching the opponents. Sullivan brought former Penguins assistants David Quinn and Ty Hennes with him to New York.
While Sullivan took the loss against his former team, new Penguins coach Dan Muse earned a victory against his. Muse was an assistant coach under Laviolette for two seasons in New York and reportedly interviewed for the vacancy before Sullivan was hired. Crosby was happy to get Muse the win.
“Every team will tell you, especially early in the season, it’s not going to be perfect. You’re just trying to be on the same page as much as possible. And I feel like he prepared us well to start the year,” Crosby said.
Pittsburgh had Crosby, Malkin and Letang in its starting lineup, three players who have been on the Penguins team together since 2007.
“We had three guys that have been playing together for 20 years, and I thought it was important that they get to start the game together,” Muse said.
Sir Keir Starmer has said the government will not relax visa rules for India, as he embarks upon a two-day trade trip to Mumbai.
The prime minister touched down this morning with dozens of Britain’s most prominent business people, including bosses from BA, Barclays, Standard Chartered, BT and Rolls-Royce.
The first full-blown trade mission to India since Theresa May was prime minister, it’s designed to boost ties between the two countries.
Sir Keir – whose face has been plastered over posters and billboards across Mumbai – will meet Indian Prime Minister Narendra Modi on Thursday, five months after the UK signed the first trade deal with India since Brexit.
The agreement has yet to be implemented, with controversial plans to waive national insurance for workers employed by big Indian businesses sent to the UK still the subject of a forthcoming consultation.
Image: Sir Keir Starmer with his business delegation. Pic: PA
However, the business delegation is likely to use the trip to lobby the prime minister not to put more taxes on them in the November budget.
Sir Keir has already turned down the wish of some CEOs on the trip to increase the number of visas.
Speaking to journalists on the plane on the way out, he said: “The visa situation hasn’t changed with the free trade agreement, and therefore we didn’t open up more visas.”
He told business that it wasn’t right to focus on visas, telling them: “The issue is not about visas.
“It’s about business-to-business engagement and investment and jobs and prosperity coming into the UK.”
Image: Narendra Modi and Keir Starmer during a press conference in July. Pic: PA
No birthday wishes for Putin
The prime minister sidestepped questions about Mr Modi’s support of Russian leader Vladimir Putin, whom he wished a happy birthday on social media. US President Donald Trump has increased tariffs against India, alleging that Indian purchases of Russian oil are supporting the war in Ukraine.
Asked about Mr Modi wishing Mr Putin happy birthday, and whether he had leverage to talk to Mr Modi about his relationship with Russia, Sir Keir sidestepped the question.
“Just for the record, I haven’t… sent birthday congratulations to Putin, nor am I going to do so,” he said.
“I don’t suppose that comes as a surprise. In relation to energy, and clamping down on Russian energy, our focus as the UK, and we’ve been leading on this, is on the shadow fleet, because we think that’s the most effective way.
“We’ve been one of the lead countries in relation to the shadow fleet, working with other countries.”
PM: We aren’t forcing wealthy people out
Sir Keir refused to give business leaders any comfort about the budget and tax hikes, despite saying in his conference speech that he recognised the last budget had an impact.
“What I acknowledged in my conference, and I’ve acknowledged a number of times now, is we asked a lot of business in the last budget. It’s important that I acknowledge that, and I also said that that had helped us with growth and stabilising the economy,” he added. “I’m not going to make any comment about the forthcoming budget, as you would expect; no prime minister or chancellor ever does.”
Asked if too many wealthy people were leaving London, he said: “No. We keep a careful eye on the figures, as you would expect.
“The measures that we took at the last budget are bringing a considerable amount of revenue into the government which is being used to fix things like the NHS. We keep a careful eye on the figures.”
A Chinese spying trial collapsed last month after the UK government would not label Beijing a national security threat, a top prosecutor has said.
Christopher Berry, 33, and former parliamentary researcher Christopher Cash, 30, were accused of espionage for China.
But the Crown Prosecution Service (CPS) announced on 15 September that the charges would be dropped, sparking criticism from Downing Street and MPs.
Berry, of Witney, Oxfordshire, and Cash, from Whitechapel, east London, had denied accusations of providing information prejudicial to the interests of the state in breach of the Official Secrets Act between December 2021 and February 2023.
Image: Director of public prosecutions Stephen Parkinson. Pic: PA
Stephen Parkinson, the director of public prosecutions (DPP), told MPs in a letter on Tuesday that the CPS had tried “over many months” to get the evidence it needed to carry out the prosecution, but it had not been forthcoming from the Labour government.
However, Sir Keir Starmer insisted the decision to brand China a threat would have to have been taken under the last Conservative administration.
More on China
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The prime minister said: “You can’t prosecute someone two years later in relation to a designation that wasn’t in place at the time.”
It is understood that the decision to end the case came after a meeting of senior officials which, according to The Sunday Times, included Jonathan Powell, the national security adviser, and Sir Oliver Robins, the Foreign Office’s top diplomat.
To prove the case under the Official Secrets Act of 1911, prosecutors would have to show the defendants were acting for an “enemy”.
Both the current Labour government and the previous Conservative governments have not labelled China a risk to national security.
In his letter to the chairs of the Commons home and justice select committees, Mr Parkinson said: “It was considered that further evidence should be obtained.
“Efforts to obtain that evidence were made over many months, but notwithstanding the fact that further witness statements were provided, none of these stated that at the time of the offence China represented a threat to national security, and by late August 2025 it was realised that this evidence would not be forthcoming.
“When this became apparent, the case could not proceed.”
He also pointed out that in a separate case about Russian spying last year, a judge ruled that an “enemy” under the 1911 Act must be a country that represents a threat to national security of the UK “at the time of the offence”.
Image: The prime minister answered reporters’ questions about the collapse of the case while on a flight to Mumbai. Pic: PA
How has the government responded?
Sir Keir has addressed the contents of the letter, which he said he had “read at speed”, while on board a flight to Mumbai, as part of the UK’s largest ever trade mission to India.
The PM said: “What matters is what the designation [of China] was in 2023, because that’s when the offence was committed and that’s when the relevant period was.
“Statements were drawn up at the time according to the then government policy, and they haven’t been changed in relation to it, that was the position then.
“I might just add, nor could the position change, because it was the designation at the time that matters.”
Sir Keir, a former director of public prosecutions, added that he wasn’t “saying that defensively”, but because “as a prosecutor, I know that… it is what the situation at the time that matters”.
He also declined to criticise the CPS or the DPP, as he said “it’s wise not to”.
Since the alleged spying offences took place, the new National Security Act has superseded elements of the 1911 Act.
But Conservatives, including shadow home secretary Chris Philp, insist that Sir Keir has “very serious questions to personally answer”.