Used vehicle prices have ticked up in the past month but remain down for the year.
According to the CARFAX Used Car Index for December, used vehicle prices are down between 2 and 7 percent in the past 12 months.
In the past month, hybrids and EVs and vans were the only categories to see a decline. Hybrids and EVs fell 0.4 percent to $30,422. Vans were down 0.3 percent to $21,970.
For the year, hybrids and EVs are down 2.5 percent. Vans are down 7.4 percent in the past 12 months.
Cars are down 4.5 percent for the year at $18,476. Pickup trucks declined 6.1 percent, approximately $1,600, since December 2023. Truck prices have increased 0.2 percent in the past month to $33,212.
“Truck prices are down more than $800 since June, the high-water mark,” CARFAX reported.
SUVs enter December with an average price of $2,534.
