Used car prices fall for first time this year as gas prices spike, EV interest rises

Customers browse in a used car lot on Feb. 15, 2023 in Glendale, California. Mario Tama | Getty Images News | Getty Images DETROIT — Used car prices fell last month for the first time since October as gas prices rose amid the war in Iran. Cox Automotive's Manheim Used Vehicle Value Index — which tracks prices of used vehicles sold at its U.S. wholesale auctions — decreased 1.6% last month compared with March and were up 1.8% compared with the same month a year earlier. …