Used vehicle prices are set to stabilize in 2025, following years of dramatic fluctuations. Cox Automotive predicts a modest 1.4% increase in wholesale prices by the end of 2025, compared to a 0.4% rise in 2024. This comes after significant drops of 7% in 2023 and nearly 15% in 2022, which followed the unprecedented price hikes of 46.6% in 2021 and 14.2% in 2020 during the Covid-19 pandemic. The stabilization is attributed to the easing of supply chain issues that had previously constrained new vehicle production. Despite the calming trend, used vehicle prices remain higher than pre-pandemic levels. Retail prices, which typically follow wholesale trends, have not decreased as rapidly. Cox Automotive also forecasts a slight increase in used vehicle sales for 2025, projecting a total of 37.8 million units sold, with retail sales expected to rise by 1.2% to 20.1 million. The average listing price for a used vehicle in December was $25,565, a slight increase from the previous month but down 3% from the year before.
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