Used car prices in America are plummeting at the fastest pace since the pandemic - and that may drive June inflation below 3%.

[jboldeniv]

Well that is good news. I also think that the reason why the price of used cars is plummeting, is because they are trying to make way for electric cars.

Used car prices in America are plummeting at the fastest pace since the pandemic - and that may drive June inflation below 3% (msn.com)

[OJ006]

I find this is a good thing. If you look at how car prices were so high during the pandemic there were a number of factors. The two factors that came into play was the chip shortage that was required for most of both regular cars like ice cars and electric cars. The second was because of the chip shortage dealerships were using that to their advantage by increasing the rates of most of the cars by 20 to 30%. For example the Ford lightning electric pickup truck was supposed to be under 60k for the higher trim model in US dollars . With the inflation of the vehicles because of the chip shortage and dealer price markup they went up to almost 90k or even 120 for just one Ford Lightning pickup truck. That's not sustainable. That includes the larger pickup trucks like the Ford F-150 and Dodge Ram and other vehicles in the lineup of the domestic and foreign pickup trucks as well. In conclusion these drops will be a cooling effect that will help everybody when it comes to purchasing of new vehicle. Your investment is important and we should always remember to wait out the storm.