Used-Car Prices On A Steady Decline As Inflation Cools
- The Manheim used-car price index, owned by Cox Automotive, has dropped 11.1% from July 2022 to 213.1, its lowest level since August 2021.
- All major market segments have seen declines in the first half of July, with compact cars seeing the largest drop at 15%, indicating a return to normalcy in the used and new car markets.
- Despite this drop, used vehicle prices are still notably higher than pre-Covid levels, which is good news for consumers but bad for those who bought vehicles during the Covid boom and