Used car prices in the U.S. fell by 1.4% last month, amid ongoing concerns related to tariffs, but overall prices are still 4% higher than a year ago. The rise in prices was driven largely by consumer demand and supply chain issues stemming from the pandemic. Luxury vehicles saw a notable year-over-year price increase of 6.5%, while SUVs increased by 5.2%. Experts predict further depreciation in prices may occur over the summer due to low inventory, although tariffs and trade policies remain influential.
Cox Automotive noted that while the market adjusts to tariff effects, used car prices may experience higher wholesale depreciation due to low inventory that could counterbalance it.
Luxury cars have seen a 6.5% increase in prices over the past year, while SUVs followed with a 5.2% increase.
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