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Used Vehicle Prices Climb Higher As Sales Pace Slows
The higher prices at used retail reflect strong wholesale values earlier in the spring, particularly for older, more affordable vehicles.
Read More →The higher prices at used retail reflect strong wholesale values earlier in the spring, particularly for older, more affordable vehicles.
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Mid-Month Update: The Manheim Used Vehicle Value Index was down 7% compared to the full month of May 2022.
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Finding the right product at the right price is more challenging for used vehicle buyers today, amid higher interest rates and recession fears.
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The average price likely will stay relatively high since few new vehicles were sold in recent years and little leasing was done.
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CAR 2023: What will be the foundations of a steady and productive used market for electric vehicles? What steps must be taken to ensure a viable EV sector?
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Conditions have shifted to favoring buyers; but with tight supply, the market is close to a balance between buyers and sellers.
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Analysis: Consumers are repairing vehicles and holding them longer to avoid historically high used-car prices. The real question is: How long will used inventory remain tight and prices above normal?
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CAR 2023: What happens when you put four remarketing economists and analysts in one room? Lots of data, predictions, trends, and uncertainty.
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CAR 2023: A closing keynote presentation draws on data and information from J.D. Power on EV adoption hurdles in the years ahead.
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Prices usually decline in the first two weeks of April, but in each of the last two years prices increased substantially during these same weeks, the Manheim Index shows.
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Finding the right product at the right price is more challenging for buyers today. Sales for all of March were down 4% compared to a year ago.
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