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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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The average listing price at the end of April was $28,365, surpassing the $28,000 mark for the first time since December 2021.
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Year to date, the total used-vehicle market is on pace to finish down more than 10% from 2021’s 40.6 million total.
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With a lack of used vehicles and rental units returning to market, demand continues to outweigh supply. When will the market come back down to earth?
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The overall used-vehicle market is experiencing a weaker spring than expected
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Combined sales into large rental, commercial and government buyers were up over 4% year over year in April.
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The EV battery analytical firm is attracting investments that will help bring its data gathering and electric usage insights to a wider array of industry clients and partnerships.
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Sales are likely to be slightly less this spring selling season.
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But they remain off last year's pace because limited new-vehicle inventory has slowed the gently used segment due to fewer trade-ins.
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At the end of March, the average listing price was $27,246, off record levels in December when it surpassed $28,000. The list price was down some from the end of February when it was a revised $27,609.
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The second quarter – especially April – will be the strongest part of the year for used vehicle sales and values, and then slow down but not crash.
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