Wholesale Used Vehicle Prices Drop 9 Percent, EVs Show Most Decline

Published on July 11, 2024

The prices of used electric vehicles are plunging at a faster pace than their gas counterparts amid an overall decline in wholesale used car prices, according to a recent analysis by Cox Automotive. The Manheim Used Vehicle Value Index, an indicator of pricing trends in the used vehicle market, declined by 8.9 percent in June from a year prior, says a July 9 Cox press release. Electric vehicles (EVs) showed the biggest fall with a 16.6 percent price decline while gas-powered vehicles registered a 9.5 percent fall. In terms of the type of vehicles, compact cars had the biggest decline, followed by midsize cars, luxury, SUVs/CUVs, and then pickups....

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