News
Wholesale Used Vehicle Prices Slightly Up In April
The Iranian conflict and rising gas prices inject much uncertainty into the future wholesale used vehicle markets, as higher gas prices soak up spendable income from vehicle buyers.
Read More →The Iranian conflict and rising gas prices inject much uncertainty into the future wholesale used vehicle markets, as higher gas prices soak up spendable income from vehicle buyers.
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Cox Automotive Commentary: The third quarter will be the industry’s toughest in 2021, and our analysts are forecasting second-half sales to finish below first half.
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Demand has been healthy, inventories tight, and dealers have felt little pressure to lower prices.
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The pace of price increases sprinted through May, closing the month nearly 25% higher than the same period in 2020 and 2019.
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Commentary: A deluge in demand and a drought in supply are roiling the market.
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The average listing price surpassed the $22,000 mark for the first time ever in April, closing the month at a new high of $22,568.
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On a year-over-year basis, all major market segments saw seasonally adjusted price increases in April.
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Strong spring sales thanks to tax refunds and stimulus checks depleted the supply.
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While prices bounce up during springtime, this year's qualify as a leap, an economist says.
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Wholesale used-vehicle prices increased 3.74% in the first 15 days of March compared to the previous month.
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Wholesale used vehicle prices jumped 3.79% month-over-month in February, led by a major increase near the month's end.
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