Used Vehicle Supply Closes Out at High Point for 2023
For the full year, Cox Automotive estimates sales for used retail were down about 3%, curtailed by a constrained supply of newly used vehicles in the market.
For the full year, Cox Automotive estimates sales for used retail were down about 3%, curtailed by a constrained supply of newly used vehicles in the market.
CAR 2024: Joe Miller will enliven the Conference of Automotive Remarketing with a presentation on new ways to view personal and professional success.
All major vehicle segments saw price declines compared to last month, with most categories exceeding the average industry decline.
A female mechanic is leading an initiative to honor and recognize women’s crucial role in the transportation industry and support for those fighting breast cancer.
Tesla price cuts that shook up the market and challenged the profitability picture for all automakers.
In another high profile indicator of consumer EV skepticism, the auto rental giant will sell off the EVs to avoid further financial losses.
While sales reached all-time highs, the oft-reported slowdown in the pace of growth is real as electric vehicles still remain too expensive for many average car buyers.
The inspection technology closely combs a car’s exterior during the check-in and check-out process and generates a complete damage report within seconds.
The leading consignors trade group and the producer of the annual Conference of Automotive Remarketing (CAR) align to bolster event offerings and better serve the remarketing industry.
Manheim expects constrained growth with a volume increase of less than 1% in 2024, indicating a return to a more normal market.
The end-of-year tallies show a healthy 28% annual increase across commercial, rental, and government fleet sectors.
The product leverages artificial intelligence and computer vision technology to provide a virtual overlay of any exterior damage detected on a vehicle, making it easier to spot hail, paint peel, detached panels, broken lights, rust, scratches, dents and cracks.
Wholesale supply ended November at 30 days, up one day from the end of October and flat year over year.
While the used vehicle market is not fully back to normal, it shows signs of more stability and balance.
The total U.S. supply of available unsold new vehicles in November climbed 57%, or 925,000 units, from the same time a year ago.
The secure and easy all-access connection to your content.
Bookmarked content can then be accessed anytime on all of your logged in devices!
Already a member? Log In