But the plunge in retail prices of used cars and trucks hasn’t progressed nearly as much.
By Wolf Richter for WOLF STREET.
Used vehicle prices at auctions dipped another 0.2% in January 2024 from December 2023, not seasonally adjusted, to $18,074, the lowest since March 2021, and are down $4,828, or 21.1% from the peak in May 2022, according to the Manheim Used Vehicle Value Index (red line in the chart).
The plunge has now worked off over half (55%) of the historic…
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