Used car prices fall for first time this year as gas prices spike, EV interest rises

Cox Automotive says affordability remains the key concern for buyers, shifting demand toward older used vehicles and all-electric vehicles. The note points to a cautious consumer backdrop rather than a sharp deterioration. Impact is likely limited and primarily relevant to auto retailers, used-car pricing, and EV demand trends.

Analysis

Cox Automotive says affordability remains the key concern for buyers, shifting demand toward older used vehicles and all-electric vehicles. The note points to a cautious consumer backdrop rather than a sharp deterioration. Impact is likely limited and primarily relevant to auto retailers, used-car pricing, and EV demand trends.