U.S. Auto Prices Showing Signs of Peaking, Sellers Say

February 4, 2022

The record surge in U.S. auto prices – which helped drive inflation to a four-decade high – may finally be over, say two firms that sell cars online, according to an Automotive News report.

Used-car prices, which have risen at an annual rate above 50% at times during the pandemic, went into reverse last month, according to a new report from CoPilot, a car-buying app. They peaked in the two weeks after the Christmas holiday, and have since declined about 1.4%, the firm’s data show.

TrueCar, a digital marketplace that helps auto buyers connect with dealers, says there’s been a drop in new-car prices too. They fell 2% in January from December, while remaining about 16% higher than a year ago, according to its data. RV Business