(ZEROHEDGE) – After a post-Covid surge in used car prices that was so robust it was pricing buyers out of the market, it looks as though the blow-off top in prices may finally be behind us.
That's because the wholesale market, where dealers buy and sell in bulk, has "topped out," according to Bloomberg. The wholesale market can be a leading indicator for prices, meaning used car prices should see a pullback.
Used car prices have been a key driving force behind U.S. inflation, which is at the highest levels in a decade. Used car prices were up 10% in April and 7.3% in May.
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