Used Car Market Experiencing Price Surge Amid Declining Inventory and Tariff Concerns
The U.S. vehicle supply is dwindling, with fears of impending tariffs causing a spike in demand for used cars. Sales of used vehicles have surged by 9% month over month, leading to rapidly increasing prices. As consumer interest grows, experts highlight that used car prices could rise by up to 10% if tariffs remain in effect. Despite a slight decline in wholesale prices, retail sales continue to thrive, indicating a market shift favoring used cars over new ones. With potential tariffs looming, both dealers and buyers are adjusting strategies, as it seems that the prices of used cars are on an upward trajectory, marking a challenging landscape for consumers in the market.
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