Marty Milstead is the president of the Mississippi Automobile Dealers Association.
“What we're seeing is there's a lot of pressure on the used car market because of high prices of new cars,” he said. “The average price of a new car is getting around $50,000 or so, low 40s. Of course, it can go up.”
He says these high prices create pressure on certain price points for used cars - with trucks and SUV’s being especially in demand.
“I don't see prices significantly coming down,” he said. “Our best hope is that interest rates come down so folks can afford more vehicle. The financing is a huge part.”
Milstead says Mississippi auto dealers in Mississippi are still trying to meet the needs of consumers in the face of tariffs.
“All you can really do on the tariff side is to hopefully have the vehicles,” he said. “Have enough inventory that you're not immediately hit with that. That's what dealers are trying to balance.”
Milstead says cars remain an essential part of life for a state like Mississippi.
“We're a state where people have to have a vehicle,” he said. “You don't have a lot of reliable public transportation. In some areas, you don't have any any public transportation.”
Milstead suggests anyone in the market for a used car do as much research as they can to keep up with changes. Mississippi has 217 car dealerships that sell at least 30 brands in the state.
