Our editorial staff has selected and edited this news release for clarity and brand style because we believe it is relevant to our audience.
News/Media Release
Staff
Staff
Our editorial staff has selected and edited this news release for clarity and brand style because we believe it is relevant to our audience.
October’s price decline is eerily similar to last October’s 2.2% drop, and this was not unexpected as the market remains balanced.
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Lauren Baker worked in leadership and client roles with PHH and Element Fleet Management.
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While the UAW strike has slowed output at auto factories nationwide, the fallout has not fully hit consumers in dealer showrooms.
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The enhanced rapid cameras spread across dealer check-in, commercial check-in, and post-reconditioning are designed to capture nearly 1,900 vehicles each day.
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Almost all major market segments saw seasonally adjusted prices that were again lower year over year in the first half of October.
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Total 2023 EV sales will likely surpass the milestone one million mark next month as the electric vehicle market transforms due to more product and supply and downward pricing pressure.
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The overall used-vehicle inventory volume is still considered limited and has been stuck in the 2.2 million to 2.3 million range for the past four months.
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September auction sales bolstered prices through the channel, but wholesale is at a crossroads, mainly from concerns about the UAW strike possibly slowing new retail sales and moving buyers into the used market.
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The fourth quarter should bring stable pricing among buyers and sellers, which should reflect only modest changes between now and the end of the year.
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Since the labor actions started Sept. 15, the U.S. has ample inventory for now from the Detroit automakers that should keep steady supply through the end of the month. The all-important Ford F-150 had 97 days of supply at the start of October.
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