SAH - Used vehicle prices fall in January a little

Used car prices have been rising at record rates since the onset of the pandemic, with the Manheim Used Vehicle index nearly doubling from Pandemic lows. However, the non-adjusted, used vehicle price index in January showed a 0.9% decline from December levels; prices remain up ~41% from the same period last year.  Manheim noted that "average daily sales conversion rates" also declined and sat below pre-pandemic levels in January. Cox Automotive estimated that used vehicle volumes were down year-on-year in January as well. The report flagged consumer sentiment, which as measured by the University of Michigan, hit a decade low in January.  (NYSE:PAG) (NYSE:AN) (NASDAQ:CRMT) (NYSE:SAH) (NYSE:LAD) (NYSE:ABG) (NYSE:KMX) (NASDAQ:CPRT)

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Used vehicle prices fall in January, a little