Australians are enjoying lower prices for used cars as a growing number of families turn to the second-hand market amid cost-of-living pressures. Figures published by AutoGrab and the Australian Automotive Dealer Association (AADA) show more than two million used cars were sold nationwide in 2023, up a huge 34.4 per cent. Prices also fell from peaks seen last March when used cars retained 75.8 per cent of their original value, reaching a low of 67 per cent (an 11.6 per cent decline) by the end of 2023. The shift is a big turnaround from the pandemic years when used-car prices…

Tax refund season has begun, which usually results in the annual peak for wholesale used-vehicle values. Anticipating that demand, dealer business picked up in late February, according to the latest Manheim Used Vehicle Value Index. Manheim says dealers should be aware tax refund/spring selling season for used cars is getting under way. Averaged out over the entire month of February, wholesale used-vehicle values ​​were virtually flat for the third consecutive month, comparing December 2023, January 2024 and February. Manheim says price stability is welcome, but values ​​were still lower than a year ago. The Manheim Index for February, which was…