The declines indicate a market environment that has significantly changed since 2021, when robust demand and favorable economic conditions propelled used-vehicle sales to a record 40.6 million in total and 21.2 million at retail.
Total used-vehicle sales could drop to 35.6 million and retail used-vehicle sales to 18.9 million in 2023, according to a forecast published last week by Cox.
“Total used transactions and retail sales will likely be down another 1 percent, which is far…
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