The wholesale value of pre-owned vehicles experienced an unexpected 7.0% drop at the close of 2023, surpassing analysts’ predictions and marking a nearly 21% decrease from the peak observed during the pandemic in December 2021. Notably, the final weeks of the year witnessed above-average declines, with an overall monthly decrease of 1.4%. This trend, triggered by price reductions across various segments, is reshaping the dynamics of the used vehicle market.
