David Paul Morris | Bloomberg | Getty Images
Used-car prices appear to be stuck in high gear, despite slowing consumer demand.
Last month, sales of used cars less than 10 years old were down 27% compared with March 2021, according to car shopping app CoPilot, which tracks dealership prices nationwide. The average price during that same time jumped 40% to $33,653.
For nearly new cars — those 1 year to 3 years old — sales in March were down by 31% compared to a year earlier, while the average price of $41,000 is 37% higher, CoPilot research shows. In the first two months of 2022, prices for this age group dropped almost by 3% before increasing again in March amid continued production…
Source cnbc.com