2021 Certified Pre-Owned Sales Almost Match 2019 Levels
Demand is strong and expected to break records in 2022 because CPO fits an important sweet spot in the vehicle market.
Demand is strong and expected to break records in 2022 because CPO fits an important sweet spot in the vehicle market.
Available inventory is still down 62% behind the same period in 2020. The days' supply as of December remained 48% below Dec. 2020.
December 2021 numbers show the accumulating effects of supply chain shortages, price inflation, and static media incomes.
Despite the interest in EVs, cost remains a critical barrier for fleet managers, particularly the larger upfront costs known to deter EV adoption.
The Cox Automotive Insights team looks at key industry trends ahead that overall point to a healthy year.
The average price paid for a new non-luxury vehicle in December 2021 was $43,072, slightly down from the record high set in November but still $900+ over sticker.
Combined sales into large rental, commercial, and government buyers were down 32% year over year in December and down 4% full-year 2021 versus 2020.
Manheim Forecast: Tax refunds and a supply-constrained market will likely lead to another round of price increases in the first half of 2022
Fleet sales year to date are also down 42% from the same time in 2019 when 2.8 million vehicles were sold.
The combined auction companies will have 39 locations across 19 states, making it a new powerhouse in the remarketing industry.
The portal enhancements eliminate delays and downtime for customers who want instant, reliable access to transport and real-time updates on the status and location of their vehicles.
During the first 15 days of December, the Manheim Used Vehicle Value Index hit 239.8, a 49% increase from December 2020.
Available inventory edged slightly higher but remain below normal.
At a time when middle-age and senior job seekers increasingly face workplace ageism, the auction operation shows an excellent record for hiring age 55+ employees.
One of the biggest changes to come out of the second year of the COVID-19 pandemic is dealers directly wholesaling from their lots.
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