The chart presents a historical trend of used car prices in the U.S. market from 2000 to 2024. It shows stable pricing from 2000 to around 2010, a steady climb through the 2010s, and a sharp spike beginning in 2020 due to pandemic-related shortages and demand. Prices peaked in 2022 and then declined through 2023 and 2024. These fluctuations directly impact diminished value claims, total loss valuations, and insurance settlements.
