Wholesale Used Vehicle Prices Experience Significant Decline, Set to Stabilize in Second Half of the Year

InflationSalesMoney Matters
Written By Jennifer Joslyn

Wholesale used vehicle prices recorded their largest monthly decline since the start of the pandemic, signaling a potential stabilization in the market during the second half of the year. The decline in wholesale prices is expected to have a downward effect on retail prices in the coming months, as the market returns to a more balanced state. Despite the decline, retail used vehicle sales remain strong, although they were estimated to be 6% lower compared to last year due to the increased availability of new vehicles and higher interest rates. Cox Automotive predicts a slow and gradual recovery in wholesale prices to pre-pandemic levels by 2028.

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Jennifer Joslyn
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