Event Brief
Used car prices drop as gas spikes, EV interest rises
Filed: May 07, 2026 at 11:00 AM ET
Summary: Cox Automotive reported used car prices fell for the first time this year as gas prices rose and EV interest increased.
WHO: Cox Automotive
WHAT: Reported used car prices falling for the first time this year amid higher gas prices and rising EV interest
WHEN: May 07, 2026 at 10:18 AM ET
WHERE: United States
WHY: Gas prices spiked while EV interest rose, shifting demand toward older vehicles and all-electric vehicles.
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