Sure, franchised dealer used-vehicle sales in 2023 fell 7% compared to the previous year and used retail prices declined 3%.

Nonetheless, it wasn’t such a bad year for the used market, and 2024 won’t be so bad either, Jonathan Banks, J.D. Power vice president of product development, valuation services, said during the J.D. Power Auto Summit preceding NADA Show 2024.

“At first blush (2023) looks like a really challenging year. But actually, it was ...