Time to Buy a Used Sports Car!

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According to The Hill, wholesale used car prices dropped by the largest monthly amount since the pandemic began.

Questions:

  1. What percentage drop in used car prices occurred between May to June?
  2. The Manheim Used Vehicle Value Index (MUVVI) saw a drop of _____ from a year ago.
  3. What was the percentage drop in the MUVVI in April 2020?
  4. Which types of cars saw the greatest drop in wholesale prices as compared to a year ago? What types saw the smallest drops in wholesale prices since June 2022?

Source:

Sforza, L. (2023). Wholesale Used Car Prices Drop by the Largest Amount Since Pandemic Began. The Hill, July 10 (Retrievable online at https://thehill.com/business/4088856-wholesale-used-car-prices-drop-by-largest-amount-since-pandemic-began/)