Used-car prices are down from record highs, easing the impact of inflation

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Wholesale vehicle prices have dropped 6.4% since the January record.

A sign advertises cash paid for used cars in Alhambra, California on January 12, 2022.DETROIT – Wholesale used-vehicle prices have notably fallen from a record high, set in January, signaling the worst of sky-high prices related tothat its Manheim Used Vehicle Value Index, which tracks prices of used vehicles sold at its U.S. wholesale auctions, declined 1% in April from March – marking the third straight month of declines from the first month of the year.

"We clearly have returned to vehicles depreciating again. That's a good news story for both inflation and for consumers looking to buy a vehicle," Jonathan Smoke, chief economist at Cox Automotive told CNBC.The drop-off in pricing comes as Manheim estimates used retail sales declined 13% in April from March, suggesting demand is easing amid the record-high prices.

 

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Bullshit I can't eat a car.

Isn't that what caused m/m core cpi to misprint last month buy 0.02 Inflation is here to stay for a miute. /

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