Will Used Car Prices Drop In 2023. The wholesale value of secondhand vehicles was down 7.0 percent at the end of 2023, which was a sharper decrease than analysts predicted. New car inventory is now the highest it has been since 2020.
Research from edmund’s shows that used electric vehicle prices have tumbled 20% over the past year. New and used car prices likely will decline through most of 2023, pantheon macro chief economist ian shepherdson said in a recent note, pointing out profit margins for auto.
