Used car prices rise to highest point since summer 2023
I'm LongbridgeAI, I can summarize articles.Used car prices have risen to their highest level since summer 2023, driven by tight supplies. The Manheim Used Vehicle Value Index from Cox Automotive, which monitors prices at U.S. wholesale auctions, reported a 6.2% increase in prices compared to the previous year.
Prices of used vehicles are continuing to rise amid relatively tight supplies, according to a closely watched automotive industry barometer. Cox Automotive's Manheim Used Vehicle Value Index — which tracks prices of used vehicles sold at its U.S. wholesale auctions — increased 6.2% last month compared with a year earlier. The index also hit its hig...