ROCKFORD, Ill. (WTVO) — The used car market is finally cooling down after years of sky-high prices.
Used car prices have been dropping as the auto industry recovers from supply chain disruptions. The Wall Street Journal reported that many dealers are trying to get rid of their vehicles before prices fall further.
The pandemic shortage has pushed car makers to focus on more profitable models. The lower trade-in prices also mean the people are holding onto their cars, not selling them for expensive new models.