Price increases drive buyers to used cars
Prices surge 4.4% year on year compared with 0.6% for preowned vehicles, index shows
15 October 2024 - 21:12
New-vehicle prices have surged 4.4% year on year while those of used vehicles rose just 0.6%, pushing some consumers to the second-hand car market, according to TransUnion’s vehicle pricing index for the second quarter of 2024.
A 6% decline in new-vehicle sales and a 6.1% drop in total vehicles financed from the previous quarter confirms the market is under strain and affordability remains a priority, says TransUnion...
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