Market Insights

Used-Vehicle Prices

Monday November 6, 2017 9:18 min Read

Contrary to analyst predictions that used-vehicle prices were going to plummet, we have seen a more-than-normal increase in used prices. In this video, Jonathan Smoke, Chief Economist at Cox Automotive, talks about the future of used-vehicle prices and the implications for retail demand for used vehicles.

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Article Highlights

A higher-than-normal increase in used-vehicle prices is partly due to hurricane replacement demand, and while that effect will level off in the next few months, predictions are that used-vehicles prices will remain solid due to retail demand for used cars.
Strong retail demand for used cars is largely being driven by affordability. Dealers need to be aware of a consumer trend towards lower price points and used cars and should consider using stocking tools to align their inventory mix accordingly.

Used-Vehicle Prices

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