Prices in second-hand automotive in the USA fell by 10.3 percent in June compared to the same period of the previous year, the most since the first period of the epidemic.
Used-vehicle prices in the US fell 4.2 percent in June from May, the biggest drop since the start of the pandemic.
Second-hand automotive prices, which are also considered as an important indicator of inflation, decreased by 10.3 percent compared to the previous year.
The June drop was one of the largest in the history of the used car price index compiled by car trading platform Manheim.
Manheim’s Used Car Value Index fell by 11.4 percent in April 2020. It was the sharpest drop since.
“The market seems to have taken an early summer break from buyers in the market. While used retail inventory has improved over the past few weeks, we expect less volatility in wholesale price movements by the end of the year,” said Chris Frey, Senior Manager Economic and Industry Analysis at Manheim’s owner Cox Automotive.