The Average Used Car Price is Now $33,000
Data shows that used cars are commanding a $10,000 premium above normal pricing levels.Thanks to data compiled by CoPilot, we can see just how much consumers are paying for used cars as of last month. By tracking virtually every dealership in the US, the data shows the average transaction price of a used car has risen to $33,341, a $172 fall from the used market's peak at $33,513 in March. Looking back at pre-pandemic and early 2020 data, that's $10,046 above projected normal prices for used cars.
unknowns have stolen several cars and electric bicycles in the Kühlungsborn (Rostock district) region. As a police spokesman said in Güstrow on Monday, a total of seven vehicle thefts were reported. The e-bikes were connected in Kühlungsborn near the holiday accommodations outdoors. The two cars of owners from North Rhine-Westphalia and Bavaria were broken up and stolen in Kühlungsborn and in the neighboring town of Rethwisch. The total damage was given at several ten thousand euros. The region around the Baltic Sea resort Kühlungsborn is considered an important visitor magnet on the Baltic Sea.
When Will Used Car Prices Go Down?
It isn't news to anyone who has shopped for a used car in 2022: The price of used cars has soared to record highs. According to the U.S. Bureau of Labor Statistics, its used car index, which tracks used car prices, has risen by 42% from December 2019 to October 2022. The free-market used car arena is built on the foundation that sellers can sell cars for the maximum amount buyers will pay. At this point, buyers are showing willingness and ability to pay astronomical prices. Used car prices shot from the first to the tenth floor like an elevator. They're likely to descend like an escalator, and a very shallow one at that. They may never reach the ground floor again.
© Jens Büttner/ZB/dpa/symbol image «Police» is on the uniform of a police officer.
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