Used cars have gotten cheaper for the first time in 2023, but year-on-year, it's the eighth consecutive decline car auto cars ⬇️
Used car prices are trending down as the market continues to adjust after the inflated peak seen during the pandemic. According to the latest report from, which tracks wholesale used car transactions, the average price of U.S. used cars in April declined by 3 percent month on month and 4.4 percent year on year.
Data for April indicates that it’s the first time in 2023 that the index has noted a decline in used car prices. But the year-on-year decline points to a broader decrease in used car prices, with last month marking the eighth consecutive month for YoY declines.which meant new car deliveries were throttled. In total, automakers sold 8.1 million fewer vehicles in the 2020-2022 period compared to 2017-2019. This huge difference means that fewer cars ended up in the used market.
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