Used car prices expected to stabilize following major decline in June
Wholesale prices of used vehicles experienced their most significant drop last month since the start of the COVID-19 pandemic, signaling a potential stabilization in prices during the second half of this year.
According to Cox Automotive’s Manheim Used Vehicle Value Index, there was a 4.2% decline from May to June, reaching a value of 215.1.
This marks the index’s third consecutive monthly decrease and one of the largest monthly drops recorded. Although the index remains higher than historical levels, it has decreased by 10.3% compared to June 2022.
Chris Frey, Cox’s Senior Manager of Economic and Industry Insights, stated that buyers at auctions seemed to have taken an early summer break, CNBC reported.
READ MORE: https://www.cnbc.com/2023/07/10/manheim-used-car-prices-june.html
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KTNV
1 year agoUsed car prices decrease significantly
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9:44
NimaJay
6 months agoCar Prices Looking to Decrease in 2024!
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2:45
DefinitelyNotAGuru
2 years agoUK Used Car Prices are Dropping!
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1:44
KERO
2 years agoRecord high car prices expected to continue in 2022
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2:38
WFTS
1 year ago3 experts discuss car buying as prices for used vehicles drop
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2:02
WCPO
3 years agoUsed Car Prices Soar
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12:19
The Blessed2Teach Show!
1 year agoUsed Car Prices Soar!!!
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10:41
Exotic Car Play Place
1 year agoCar Prices Are NOW Dropping Like A Rock And The Bubble Finally Burst
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3:42
WXYZ
3 years ago'This is unprecedented.' Here's why prices for used cars are at an all-time high
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0:29
charliepowell
1 year agoWhat happens to the Used car market when the interest rates Drops #usedcar #recession 🤫
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