Used car prices fell 7% in 2023, and 21% from December 2021 to December 2023, according to the Manheim Used Vehicle Value Index.
“Used car prices really shot up during the pandemic. That was a time when the automakers were having trouble getting supplies and parts,” said Mac Clouse, a professor of finance at the University of Denver.
So demand for used cars went up, in part due to these supply chain issues with new vehicles.
Now that the production issues and auto worker…
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