Cox Automotive lowers Manheim Used Vehicle Value Index forecast to 0.2%
- 1Cox Automotive lowered its forecast for the Manheim Used Vehicle Value Index growth from 2% to 0.2%.
- 2Unadjusted wholesale used vehicle prices fell 1.2% in September, continuing the downward trend.
- 3Chief Economist Jeremy Rob stated that Middle East conflicts, diesel prices, and rising interest rates impacted wholesale prices.
So what's the key point?
The expectation that used car prices would rise has decreased significantly from 2% to 0.2%. This means that prices in the used car market may not increase as much as before.
Source CNBC · View original ↗
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