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Wholesale Used-Vehicle Prices See Large Decline in June(www.coxautoinc.com)

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Wholesale prices are down almost 10% YoY. New car production is up and new car inventory is returning to normal. Prices have started to drop with the reintroduction of incentives.

All this points to supply returning and demand falling away with increased interest rates, high inflation, and the imminent return of student loan payments. Accordingly, prices should continue to fall. Hopefully we see a significant reduction in pricing and a return to reasonable affordability of vehicles.

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