SANTA MONICA, CA — August 14, 2024 — Edmunds' Insights Team reports a major shift in the used vehicle market, with prices showing a marked decline in Q2 2024. After several years of elevated prices, used vehicle values have begun a notable correction, signaling a new phase in the market that could benefit buyers seeking more affordable options. This report covers the impact of these price changes on consumer choices, dealership inventories and market dynamics, offering key takeaways for prospective car buyers navigating a changing economic landscape.

Read Edmunds' full Q2 2024 Used Vehicle Report here.

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