Used-Car Prices Tumble in Largest Drop Since the Pandemic

Used car lot in Wexford, Pa., on Sept. 29, 2022. Gene J. Puskar/AP Photo

Wholesale used-car prices tumbled for a third straight month in June, in the largest drop since the start of the pandemic in 2020.

Prices in that sector, dropped by 4.2 percent from May to June, according to a  Cox Automotive’s Mannheim Used Vehicle Value Index (MUVVI), a measurement of wholesale prices of used vehicles, fell 10.3 percent year over year in June.