Used-car sales may recover for rest of 2023, expert says

With used-vehicle prices back in depreciation territory, May and June could go down in the books as the “worst May and June in history” for used vehicles losing value, Smoke said.

However, those vehicles losing value is “a good thing for the people who’ve been sitting on the sidelines not able to find a vehicle at the price point they want,” Smoke said.

Floor under prices

There is a scarcity of used vehicles less than 4 years old because of a COVID-19 pandemic-induced lack of…