By Chris Isidore, CNN BusinessTracking used car prices is enough to give anyone whiplash. Today’s average used car price is about the same as the average new car price as recently as 2010. Increased inventory pushing down pricesBut the leading reason for the drop in used car prices is the increased supply of new cars. There could be more declines in used car prices in the months ahead, as new car inventories continue to build. One thing that could put a floor under the used car prices: late model used cars will likely be in short supply given the reduced new car production over the last three years.

Source: CNN January 16, 2023 22:16 UTC