AssetID: 54906485
Headline: UNCAPTIONED: US Used Car Prices Surge Due to Tariffs and Market Volatility
Caption: US Used Car Prices Surge Due to Tariffs and Market Volatility. US used vehicle prices are climbing again, reflecting market volatility linked to auto tariffs. The Manheim Used Vehicle Value Index rose 1.6% in June from May, marking the largest annual increase in nearly three years. The index surged by 6.3% from a year earlier, reaching its highest level since October 2023. Price volatility is influenced by President Trump's tariffs on imported autos, impacting new sales and used vehicle supply. The supply of vehicles from leases has been trending downward, supporting higher values in the used car market. Jeremy Robb from Cox Automotive noted that vehicle sales remain hotter than previous years, contributing to the price surge. The surge in used car prices follows a consumer rush to purchase vehicles ahead of anticipated tariff-induced price hikes. Despite a fall in sales in May and June, the overall used car market remains volatile, driven by ongoing tariff issues. The Manheim Index was an early indicator of inflationary pressures that emerged in the US economy post-pandemic. Federal Reserve officials are concerned about potential price surges and are cautious about reducing interest rates. Instructions: THIS VIDEO MUST NOT BE EDITED FOR LENGTH TO COMBINE WITH OTHER CONTENT
Keywords: Motoring,used vehicle prices,Manheim Used Vehicle Value Index,tariffs,auto market volatility,President Trump,Cox Automotive,vehicle supply,inflation,Federal Reserve,interest rates,US economy,vehicle sales,market trends,automobile market,used car prices,economic indicators,Federal Reserve policies,consumer behavior,vehicle tariffs,market volatility,economic recovery,pricing trends,car sales
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