Wholesale used-car prices tumbled for a third straight month in June, in the largest drop since the start of the pandemic in 2020. Prices in that sector, dropped by 4.2 percent from May to June, according to a Cox Automotive’s Mannheim Used Vehicle Value Index (MUVVI), a measurement of wholesale prices of used vehicles, fell 10.3…
Used-Car Prices Tumble in Largest Drop Since the Pandemic
July 11, 2023
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Used-Car Prices Are Back Up Again This Month, After Easing for Nearly a Year
March 30, 2023
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Used-car prices in the United States have gone back up again in March, after easing for months. The average used-vehicle price was gradually leaning toward affordable again for millions of Americans for almost a year. Although the relief was relatively slight, many car buyers benefited from the price decline. The average used-car purchase had dropped from…
Used Car Prices Soar, Highest Jump in 14 Years
February 17, 2023
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Used car prices have seen the largest February increase in 14 years as inflation continues to drive consumer prices. Wholesale used-vehicle prices increased 4.1 percent from January through the first half of this month, signifying the largest February increase since 2009’s full-month 4.4 percent gain, according to the mid-month Manheim Used Vehicle Value Index from Cox Automotive….
Used Car Prices Pop Up Unexpectedly, Suggesting Inflation Woes Not Over
February 9, 2023
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Used car prices jumped unexpectedly in January, which suggests that inflation woes are not over for car buyers. The news has the potential to squash optimistic predictions that inflation is heading downward, as the Federal Reserve continues to hike interest rates. Used car prices have increasingly become a point of interest for investors and for…
Australian Consumers Warned of Used Car Scams as Odometer Tampering Surges
The New South Wales state government of Australia is warning residents shopping for used vehicles to be mindful of odometer tampering, after a four-fold increase in the number of fines issued for the offence. Fair Trading Minister Eleni Petinos said as used vehicle sales increased during COVID-19, so too had incidents of odometer fraud. “NSW…
Aussies to Wait 2 Years Before Used Car Prices Drop
March 2, 2022
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Australians looking to buy a reasonably priced car may need to wait for another two years for prices to go back down, and even then, its unlikely to go down to pre-pandemic prices. Ajay Bhatia, the managing director of Carsales Australia, told The Epoch Times that he believes car prices have plateaued and will remain…
Used Car Prices Surge 39 Percent Over 12 months Through November
January 4, 2022
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Used car prices are vaulting to record highs with an average price tag of $29,011 in November, as new vehicle production slows down because of chip shortages and inventories of second-hand cars dwindle in dealerships throughout the country. A used car in the United States costs approximately 39 percent more than what it did a…
Used-Car Prices Soar to Record High Amid New-Vehicle Inventory Slump
Wholesale used car prices hit a record high in September with the chip shortage and other supply constraints squeezing new-vehicle inventories and combining with strong demand to send prices soaring. The Manheim U.S. Used Vehicle Value Index rose 5.3 percent over the month in September and by 27.1 percent over the year to an all-time…
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