Used car prices dip 1.6% in April as gas prices reshape demand
Updated
Updated · Sherwood News · May 7
Used car prices dip 1.6% in April as gas prices reshape demand
12 articles · Updated · Sherwood News · May 7
Cox Automotive said the April decline was 2026's first, though wholesale values remained near levels last seen in 2023.
Chief economist Jeremy Robb said affordability pressures are boosting demand for older vehicles and altering buying decisions for electric vehicles.
Cox's EV index rose 7.2% from April 2025, versus a 1.1% increase for non-EVs, extending a shift retailers including CarMax have linked to higher fuel costs.
As gas prices soar, is buying a pricier used EV a smart financial move or a costly gamble for the average American family?
Beyond the pump, how is the Middle East conflict secretly reshaping the future of the entire US auto industry?
With car affordability at a crisis point, can your dealership's service bay become its most powerful and overlooked sales tool?