11 Nov, 23

Used Car Market In Turmoil As Prices Collapse And Demand Wanes

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Auto research firm Cox Automotive – the owner of the closely followed Manheim price index – published new data this week for October that shows wholesale used-vehicle prices continue to slide and have reached the lowest levels since April 2021.  The Manheim Used Vehicle Value Index stood at 209.4 in October, down 2.3% from September. The index is down 4% from a year ago. These wholesale prices filter into the retail side of the market with a slight lag.   “October revealed some not-so-spooky price moves, namely a reversal of the…

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