Wholesale used car prices dropped 1.6 percent from June to July, a slower decrease than the 4.2 percent decline seen the previous month.
Chris Frey, senior manager of economic and industry insights for Cox Automotive, said used cars now have the same index value they did in April 2021. But he also said he did not foresee wholesale used car price reductions “of serious import” through the end of the year.
“While the year-over-year price drop was again double-digit,…
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