Introduction
CoPilot’s Return to Normal Index is the only index that tracks the used car market’s return to normal. The Index shows the differential between what an individual used car would have been worth today if not for the extraordinary dynamics of the past two years, versus how much it is actually worth now – and tracks this differential over time. In doing so, the Index provides the only real-time barometer of which vehicle types offer the best value, how close a particular vehicle is to its projected normal price, and how far it has to fall.
Using CoPilot’s free Price Pulse tool, car shoppers can easily check current prices and the Price Premium on any car, track price changes, and compare across years and models to choose the right car and know when to buy.
Background
The combined effects of extraordinary market dynamics over the past two years have created unprecedented inflation in used cars, leading to all-time high prices, up 51% percent from before the COVID-19 pandemic.
Significantly, the Return to Normal Index reflects current retail prices, rather than wholesale prices, offering a real-time metric of the challenges facing consumers in the market.
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