Used-car price tags have dropped slightly, soothing the blow from record-high inflation
Photo by Parker Gibbs on Unsplash
Cox Automotive revealed this past Friday that its Manheim Used Vehicle Value Index, which records prices of used vehicles sold at its wholesale auctions, dropped 1% between March and April 2022. In fact, wholesale vehicle prices have dipped 6.4% since the previous January 2022 record.
Regardless, prices are still laughably high, and the index continues to show an increase of 14% as compared to 2021 prices.