The chart presents a historical trend of used car prices in the US 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