Study: Average Used Vehicle Price Exceeds $10,000

The average wholesale price of used vehicles surpassed $10,000 last month, the highest in nearly four years, reports Automotive News. The last time the average wholesale price surpassed $10,000 was May 2002, according to a study by ADESA. Tom Kontos, ADESA's VP of industry relations and analytical services, told Automotive News the price growth suggests the used-vehicle market has generally recovered from its fall after the 9/11 attacks, though Kontos adds "we haven't fully regained the ground we lost."