All eight major market segments saw seasonally adjusted prices that were lower year over year in October.
All eight major market segments saw seasonally adjusted prices that were lower year over year in the first half of October.
Higher interest rates are likely hurting used-vehicle demand because consumers can’t afford the higher monthly payments.
See how Cox Automotive scored when its earlier outlook met the economic and market realities so far this year.
Wholesale prices had been moving downward for most of the year and decreased 4% in August from July, widening the divergence with retail prices.
An iseecars.com study finds electric car prices saw an increase of 54% in July from the same month last year while gas-powered cars were up just 10%.
ANALYSIS: Used cars will no longer contribute to inflation. They should be a source of deflation in the months ahead.
For the first time, used EV prices are exceeding the consumer price index for all used cars spurring sales and resales, according to the Q3 2022 Used Electric Car Market Report.
Analysis: A big drop of 20% to 30%, as one report suggests, is highly unlikely. History tells us a decline of more than 10% is rare indeed.
Wholesale prices appear to have peaked the week before Thanksgiving as weekly prices have declined slightly in each of the last two weeks. But retail prices continue to increase.
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