JD Power’s Used Car Market Outlook showed strong trends for the industry as well as a few challenges. Both new and used car prices shot up to record highs in 2022, according to last month’s report. Average Used Car Retail prices were $30,816 for 2022, nearly $4,000 higher than 2021 and $9,000 over 2019. JD Power provided an example of this by looking at a 2016 Toyota Camry. In January of 2019, the price of that car was $16,351, then it dropped to $13m546 in January of 2021 before climbing again to a price of $17,482 in November of 2022. During 2022 the average used car prices actually topped $32,000 before dropping in the fourth quarter. New Car prices averaged $45,000 for 2022, nearly $5,00 more than 2021 and almost $12,00 more than 2019. JD Power’s annual valuation services show that used vehicle process have peaked and should soften in this year and in 2024.

And also, we sit down Eric Johnson of Hudson Cook. Eric is a partner in the firm's Oklahoma City office and Editor in Chief of CounselorLibrary.com's Spot Delivery publication.

JD Power’s Used Car Market Outlook showed strong trends for the industry as well as a few challenges. Both new and used car prices shot up to record highs in 2022, according to last month’s report. Average Used Car Retail prices were $30,816 for 2022, nearly $4,000 higher than 2021 and $9,000 over 2019. JD Power provided an example of this by looking at a 2016 Toyota Camry. In January of 2019, the price of that car was $16,351, then it dropped to $13m546 in January of 2021 before climbing again to a price of $17,482 in November of 2022. During 2022 the average used car prices actually topped $32,000 before dropping in the fourth quarter. New Car prices averaged $45,000 for 2022, nearly $5,00 more than 2021 and almost $12,00 more than 2019. JD Power’s annual valuation services show that used vehicle process have peaked and should soften in this year and in 2024.
And also, we sit down Eric Johnson of Hudson Cook. Eric is a partner in the firm's Oklahoma City office and Editor in Chief of CounselorLibrary.com's Spot Delivery publication.

Fast and reliable news car dealers can rely on for an evolving industry.

As the first podcast devoted solely to the used car industry Used Car News will gather all the news, feature stories, data, studies, statistics and surveys together under one roof and make sense of them for you. To our advertisers, we provide an inexpensive advertising medium so even the smallest advertiser can afford to promote its products. Used Car News provides a targeted advertising medium aimed at independent used car dealers, wholesalers, buyers and new-car dealers who are at the heart of our industry.

https://usedcarnews.com/

Fast and reliable news car dealers can rely on for an evolving industry.
As the first podcast devoted solely to the used car industry Used Car News will gather all the news, feature stories, data, studies, statistics and surveys together under one roof and make sense of them for you. To our advertisers, we provide an inexpensive advertising medium so even the smallest advertiser can afford to promote its products. Used Car News provides a targeted advertising medium aimed at independent used car dealers, wholesalers, buyers and new-car dealers who are at the heart of our industry.
<a href="https://usedcarnews.com/">https://usedcarnews.com/</a>

Used Car News - Fast and reliable news car dealers can rely on for an evolving industry.

Used Car News

Fast and reliable news car dealers can rely on for an evolving industry.



For more information visit https://usedcarnews.com/

This podcast is produced by BG Podcast Network. 

Fast and reliable news car dealers can rely on for an evolving industry.
 
For more information visit <a href="https://usedcarnews.com/">https://usedcarnews.com/</a>
This podcast is produced by BG Podcast Network.

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