Quote:
Originally Posted by Chick Webb
In the most recent PCE report prices for both new and used vehicles were up, month-over-month, so maybe not such bad news for recent buyers after all.
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Prices on certain used vehicles are definitely declining: anything in the $50k+ space that is a "common" vehicle is improving (3-Series, X3, X5, C-Class, etc.). Most high performance/exotics are retaining their values better than I'd expect.
That said, keep in mind that going into the back half of this year, the number of lease returns coming into the used market will drop significantly, and moving forward, the market will be short several million used cars due to production cuts.
Used car price increases may be moderating/dropping, but don't expect a significant draw-down in prices unless dealers need to sell under duress.