Despite an expected 8.5% year-over-year decline in August volume, Cox Automotive forecasts a 16.3 million SAAR, with full-size pickups outperforming several major crossover segments.
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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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Wholesale values continued their ascent in the final weeks of February, with nearly all reporting segments experiencing gains.
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The latest trends in the key indicators suggest used vehicle values are likely to continue to see appreciation in the days and weeks ahead.
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Wholesale prices continued to gain strength for the first week of February in what Black Book Market Insights said is starting to look like the beginning to an early start to the Spring market.
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