vs Last Month
−0.30 pts
Continued deflation.
Used Car Price Inflation
CPI Used Cars and Trucks · YoY
-2.10%
-0.30 pts vs. last month
Past 12 monthsRange −2.50 to +1.20
2021 Peak+45%
vs Last Year-2.85
vs 2019 Level+30%
Used cars are now 2.10% cheaper than a year ago — the bubble deflation continues. But absolute prices remain ~30% above 2019 levels, so the deal still depends on what you're buying.
Historical trend
Monthly YoY change.
Source: FRED · CUSR0000SETA02
The long view: since 1980
2021 spike was unprecedented in modern history.
Peak +45% · June 2021Trough −10.1% · 2024Today −2.10%
How today stacks up
vs Last Year
−2.85 pts
Flipped from positive to negative.
5-Yr Avg
+5.40%
Skewed by 2021 bubble.
2021 Peak
+45%
Largest annual change in CPI history.
Use this trend
Tools for car buyers.
About Used Car Price Inflation
The used car CPI tracker is one of the most volatile components of the U.S. inflation basket — and one of the clearest illustrations of post-pandemic distortions. From mid-2020 to mid-2022, used car prices rose ~50% as new car production collapsed (semiconductor shortage) and pandemic stimulus boosted demand. The bubble has been deflating ever since: today's −2.10% reading means used cars are 2% cheaper than a year ago.
The historic 2021 bubble
In June 2021, used car CPI hit 45% year-over-year — the largest annual price increase ever recorded for any major CPI category. The drivers: new-car production was crippled by chip shortages, rental car fleets were depleted from pandemic firesales, and federal stimulus boosted purchasing power. By the time supply normalized in late 2022, the bubble started its long deflation.
What today\'s number means
Used cars are finally cheaper year-over-year. Wholesale prices (Manheim Used Vehicle Value Index) have fallen for 24 of the last 30 months. Retail prices lag wholesale by 3–6 months. The Manheim index is now near pre-COVID levels, but retail used prices remain roughly 30% above 2019 in absolute terms — because the bubble inflated the base from which deflation is now occurring.
Related trackers
Other live numbers that move with — or against — this one.
Frequently asked
What this number means, and what it doesn't.
Three shocks at once: (1) chip shortage cut new-car production by ~10M vehicles globally, (2) rental car companies sold their fleets cheaply early in COVID and had to rebuy, (3) stimulus checks gave buyers liquidity. Used cars became the only available vehicles for many buyers.
Yes — year-over-year deflation has been the trend since late 2022. But "falling" is relative to the bubble peak. Absolute prices remain ~30% above 2019. Buyers shopping now are seeing better deals than 2022 but worse than 2019.
Manheim runs the largest U.S. auto auctions. Their Used Vehicle Value Index tracks wholesale prices — what dealers pay at auction. CPI Used Cars tracks retail (what you pay on the lot). Manheim leads CPI by 3–6 months.
Better than 2022 — wholesale prices have normalized. Worse than 2019 — retail prices are still elevated and auto loan rates (7.24% today) are higher. The deal depends heavily on the specific model: trucks/SUVs remain expensive; sedans are cheap.
Methodology
Source
Pulled from FRED · CUSR0000SETA02 and cached on the EvvyTools server.
Update schedule
Refreshed automatically by our cron whenever the upstream source publishes a new value. Historical values are not revised after publication.
How we compute
Display value is the raw published number, unrounded. Comparison stats use the closest available reference date. We never edit the underlying data.