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The Surprising Strength of Q1 2023 Used Vehicle Sales

March 13, 2023| Zach Klempf

The used vehicle market has demonstrated remarkable strength in early 2023, surpassing expectations that affordability concerns would dampen consumer interest. According to Cox Automotive, sales of used vehicles increased by 5% in January 2023 compared to the same period in 2022. Wholesale used-vehicle prices increased 4.3% in February from January. This was the largest increase for the full month of February since 2009’s 4.4% rise....

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