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Used car price update




Here's an update to a chart I've shown several times in the past. I note the huge rebound in the prices of used cars following the recession-induced collapse of late 2008. As Manheim notes, "on a mix, mileage and seasonally-adjusted basis ... the Manheim Used Vehicle Value Index was 117.6 for January, which represented a 15.6% increase from a year ago." This strongly suggests that consumers are getting back on their feet, and that inventories of unsold cars have returned to some measure of balance. More good news.

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