📉 Cox Automotive reports a 2.7% decrease in wholesale used-vehicle prices in the first half of April and is down 4% year over year. 🤷♀️
🏃♂️ Prices usually start to decline in the first half of April, but the pace has accelerated in the last three years. 🗓️
🛻 Seven of eight major market segments saw YOY declines, while solely pickup trucks had a 0.1% increase in price. Again from March to April, seven of eight major segments declined, with Sports cars as the exception at a 1.4% increase. ⚽️🏀🏈
April is also tax time. While the 2023 tax refund season started faster than 2022, it is now behind in all metrics, including the number of refunds issued and a 9% drop in the average refund amount. 🧾🧮💰