Monday, March 27, 2023

Used vehicle prices rising at an unseasonably strong rate

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  • Cox Automotive on Tuesday reported wholesale used vehicle prices increased 4.3% in February from January — marking the largest increase between the two months since 2009.
  • Although the prices were were down 7% from inflated levels a year earlier, they’re trending back toward record levels, according to Cox’s Manheim Used Vehicle Value Index.

Cox reports the average listed price of a used vehicle was $26,510 in January, the most recent data available, down from record highs last year of more than $28,000. Retail prices for consumers traditionally follow changes in wholesale prices.

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Disclaimer: This story is generated from RSS Feed and has not been created or edited by Waba News. Publisher: CNBC


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