Used-car prices headed up again

Pre-owned car prices went up 4.4% in April, the first increase seen in the U.S. used-car market since June, according to government data released last week.

Mark Conrad, who launched his own used-car dealership in Cape Girardeau more than a decade ago, said Thursday, May 11, what happens to the cost of new cars filters down to pre-owned ones.

"You've got people willing to pay thousands above sticker for new cars," said Conrad, who added this development inevitably impacts all other vehicles for sale.

"Over the past year or so, supply chains have been returning to normal, and that's helped push used-car prices part of the way back down. But now, low inventories are getting in the way of further declines," reported www.bloomberg.com, adding that pre-owned prices will likely continue to rise amid strong demand and anemic inventory levels.

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