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When Will the Used Car Market Bounce Back? The Jerry study found that the used car market will not return to pre-pandemic levels anytime soon. In 2019, there were 13.1 million used cars on the market.
Compared to their peak in February 2022, prices paid for used vehicles are now down 19.4%. Used car prices rose more than 40% annually in both June and July 2021, and again in January and February ...
Compared to their peak in February 2022, prices paid for used vehicles are now down 20.2%. Used car prices rose more than 40% annually in both June and July 2021, and again in January and February ...
Its average used selling price was only $19,649 in October 2023, which was a 30.6% drop from $28,304 in October 2022. Plus, you could get a federal EV tax credit with this option. 2.
For those attentively following the frustrating and overpriced used car market over the past two years, something had to give. According to Manheim, wholesale used car prices saw a "large decline ...
The gap between the average price of a new vehicle compared to a used car topped $20,000 for the first time last quarter, according to data from auto shopping guide Edmunds.
A few months ago, the chances of buying a used car were slim unless you were prepared to pay grossly inflated prices. Ongoing supply chain disruptions that arose during the pandemic were ...
If you've considered buying a used car or truck in the past few years, you've likely faced sticker shock. Beginning during the pandemic, and stemming from new car supply chain disruptions, the ...