The Ultimate Game-Changer: Edmunds Disrupts The Used Car Market - The Creative Blog
Webedmunds analysts uncovered the key new trends shaping the used market in their q3 used vehicle report, including: The expected, substantial pricing gap. Webdepending on who you ask (cox automotive, edmunds, cargurus, or black book), retail used car prices increased anywhere from 32% to 36% in 2021. Webthe biggest question right now is: When will interest rates come down, making used cars seem more attractive to value shoppers?
Understanding the Context
Many experts predict that. Webedmunds found the average transaction price for a used vehicle was $28,935 in the third quarter. While that’s still way above the average of $20,085 from. Webused ev values have undergone a major course correction, falling 20.
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5% year over year from q2 of 2023 and 38. 5% from q2 2022. The average age for a used ev is 2. 7 years, trending younger than. Webedmunds says a growing number of drivers who bought cars when prices were high with loans are now finding themselves in negative equity.
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Those most at risk. Webedmunds analysts uncovered the key new trends shaping the used market in their q3 used vehicle report, including: The expected, substantial pricing gap between brand. Used car prices are softening but remain historically high. The average used vehicle transaction price in q1 2023 dipped 6. 4% year over year but is up 44% from five.