News/Media Release
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.
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.
The used-vehicle market faces a challenging year ahead as demand weakens and supply of nearly new vehicles is particularly constrained.
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While this is the EV decade, the market is a long way from becoming one centered on electric vehicles.
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As the supply of new vehicles improves rapidly, demand and prices for used ones are declining.
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Average transaction prices (ATP) have been above the average manufacturer’s suggested retail price (MSRP) for more than a year.
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After volatile highs and lows during the last three years, the market should hit equilibrium in the second half of 2023.
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A lower than normal sales conversion rate indicated December saw buyers with more bargaining power than typically seen for this time of year.
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A data partnership between vAuto and Ready Logistics equips dealers to further evaluate a vehicle’s market potential by considering transport costs and time.
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After fleet sales ran far below historical averages for the last three years, increases in 2023 won't be close to levels before 2020.
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The total supply of unsold used vehicles on dealer lots, both franchised and independents, across the U.S. stood at 2.33 million units at the end of November, about 4% higher than a year ago.
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Days’ supply by end of November was 77% higher than at the same time a year ago and the highest since March 2021. While inventory is up from recent levels, it remains low by historical standards.
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