Vehicle prices continued a downward trend in April, with the new car market slipping and used prices sliding the most of any major category in the Consumer Price Index (CPI) over the last year as the car market stabilizes after runaway price increases during the pandemic. Used car prices fell 1.4% over the prior month in April and 6.9% from the prior year, data from the BLS showed on Wednesday. New car prices fell 0.4% in April and 0.4% from the prior year. Compared to their peak in February 202...
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UBS sees the used-car prices jump leading an "enormous surge over just the past few months" for the consumer price index, a popular inflation gauge.
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The price of used cars jumped up 40 percent to an average of nearly $29,000 between early 2020 and May 2023.
A used-car shortage has pushed prices to record highs. But prices will drop in coming months, experts say.
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Based on a weighted calculation of that price change and Americans’ demand for used cars, the Labor Department estimates that used car prices contributed 0.112 percentage points to the...
Prices for used cars briefly cooled down this summer, but wholesale prices were on the rise again in September.
But it can also be a big financial commitment, with some industry reports estimating that the average price of a used car is close to $28,000. The more you know going in to the dealer, the...