Used Car Prices in the US Continue to Fall

2024-07-09 13:17 By Joana Taborda 1 min. read

The Manheim Used Vehicle Value Index for the US went down 0.6% month-over-month in June 2024, the same as in May, and marking a ninth consecutive month of no growth.

"Wholesale value declines have been stronger than we normally see for much of the last two months.

However, even though much of the industry was feeling the retail sales disruptions caused by the CDK?outages in the latter part of the month, Manheim started to see wholesale price declines decelerate, ending the month at a seasonally normal pace", said?Jeremy Robb, senior director of Economic and Industry Insights at Cox Automotive.

In June, prices declined for compacts (-0.4%), midsize cars (-0.8%), luxury (-0.9%), and pickups (-1.4%) but increased for SUVs (+0.3%).

Year-on-year, used car prices decreased 8.9%.



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