
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.
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The higher prices at used retail reflect strong wholesale values earlier in the spring, particularly for older, more affordable vehicles.
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An iseecars.com study finds electric car prices saw an increase of 54% in July from the same month last year while gas-powered cars were up just 10%.
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IARA Summer Roundtable: Electrification expert Kristin Slanina supercharged the annual consignors and remarketers conference with a step-by-step hopeful outlook for adopting, using, and reselling EVs.
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All major market segments saw seasonally adjusted prices that were higher year over year -- but declined -- in the first half of August.
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Higher prices and higher interest rates are slowing the seasonally adjusted annual rate of sales in the used market.
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Used vehicles are tracking at a fairly normal pace for supply. Sales have slowed compared to the strong pace in the summer of 2021, but are still relatively healthy.
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The used market this year is feeling the effects of high-inflation and elevated used-vehicle prices. Sales continue to be soft, but the market is not under stress
Read More →IARA Summer Roundtable: One ongoing effort among consignors, dealers and auctions is coming up with reliable and consistent standards for valuing used electric vehicles. Most recently, EV expert Kristin Slanina gained firsthand experience on EV performance during the Charge Across America race.
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All major market segments once again saw seasonally adjusted prices that were higher year over year in July.
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The drawn-out vehicle shortage is producing a domino effect of issues for many fleet segments, says Cox Automotive’s Jonathan Smoke, but a potential recession may have a silver lining — if we even have one at all.
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ANALYSIS: Used cars will no longer contribute to inflation. They should be a source of deflation in the months ahead.
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