Why car prices are skyrocketing – and may not fall for a while | myfox8.com

The Manheim U.S. Used Vehicle Value Index, which tracks millions of used car transactions annually, shot up to a new record high of 191.4 on Tuesday – a 52.2% increase from April of 2020.

According to the index, the “spring leap” in used car prices may not slow down any time soon. Accelerating prices and sales efficiency suggest that this trend will continue for at least the near future, a Manheim report states.

Why car prices are skyrocketing – and may not fall for a while | myfox8.com