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July 22, 2021

Used-car prices slip from dizzy heights

  • Though average wholesale prices are gradually dropping, they'll likely remain near record levels.
    • By TOM KRISHER and MIKE HOUSEHOLDER
    Associated Press

    DEARBORN, Mich. — For months, anyone who wandered onto a dealer lot to look for a used car could be forgiven for doing a double take — and then wandering right off the lot.

    Prices had rocketed more than 40% from their levels just before the viral pandemic struck, to an average of nearly $25,000. The supply of vehicles had shrunk. And any hope of negotiating on price? Good luck with that.


     
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