Used-car April retail sales fell an estimated 8% year-over-year, Cox Automotive said Friday. Average retail listing prices, however, are still trending higher, Cox said. But car buyers might be looking at better news soon: Wholesale used-vehicle prices dropped 3% in April, from March, a first drop for 2023, Cox said. Prices for wholesale used vehicles, or cars usually sold in lots to dealers at auctions, had increased nearly 9% through the first quarter from December. Wholesale used-car prices trickle down to retail prices in a few weeks.
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