Wholesale Used Car Prices Plummet As Retail Prices Soar

The new sports car of Italian luxury vehicle manufacturer Maserati, the Maserati MC20 is presented on September 9, 2020 at the Modena racetrack. (Photo by MIGUEL MEDINA / AFP) (Photo by MIGUEL MEDINA/AFP via Getty Images)

At a glance

  • The wholesale price of used cars is falling off a cliff while the retail prices that car shoppers are paying is way up, suggesting dealers are making a killing while consumers are taking a bath.
  • Used car prices declined 2 percent from September in the first half of October and are down 10.3 percent from a year ago, according to The Manheim Used Vehicle Index published on Monday.
  • Wholesale used luxury car prices are down 13.5 percent while used sport utility vehicles are down 12.3 percent and pick-up trucks are down 8.4 percent.

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