Used Car Prices Sets Records

Used Car Prices

Car prices are going through the roof. Inflation just keep coming. As outlined by Axios:

At the risk of sounding like a broken record: Used car prices are still going up.

Wholesale vehicle prices, or what dealers pay, rose 3.9% in November, putting the year-over-year increase at 43.5%.

The big picture: Price growth in used vehicles, the poster child for supply chain disruption, is slowing — after a 9.2% surge in October.

“Wholesale prices appear to have peaked the week before Thanksgiving as weekly prices have declined slightly in each of the last 2 weeks,” wrote Jonathan Smoke, chief economist at Cox Automotive, which compiles the Manheim vehicle index.

Axios Markets By Kate Marino ·Dec 08, 2021

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