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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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Future pricing trends of new electric vehicles and resale values of used ones remain undefined and unpredictable for the long-term.
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Retail demand softened last month, but January sales were buoyed by fleet purchases, up 58% from the year-earlier January.
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All eight major vehicle market segments saw seasonally adjusted prices that were lower year over year in January.
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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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As the supply of new vehicles improves rapidly, demand and prices for used ones are declining.
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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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Analysis: In house experts look at recent research, business intelligence, and a wide segment of first-party data to distill some likely trends for the automotive market.
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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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