Wholesale Vehicle Market Climate Heads Into a Cooldown
The slowing economy has driven average vehicle sale and floor prices past a turning point compared to last year.
The slowing economy has driven average vehicle sale and floor prices past a turning point compared to last year.
The southeastern U.S. independent auction vehicle wholesaler now spans 10 locations after its second acquisition this year.
All eight major market segments saw seasonally adjusted prices that were lower year over year in the first half of October.
Carfax data shows an additional 400,000 water-damaged cars in 2022.
Higher interest rates are likely hurting used-vehicle demand because consumers can’t afford the higher monthly payments.
Despite elevated vehicle prices, soaring interest rates and high inflation, there are no signs that demand is falling off yet.
September marks a record 16th straight month that new-vehicle ATPs were higher than the average manufacturer’s suggested retail price (MSRP).
CPO has been up and down this year as it’s affected by supply and demand, but it should end the year at 2.4 million.
Only three of eight major market segments saw seasonally adjusted prices that were higher year over year in September. The full-year Manheim Used Vehicle Value Index forecast is expected to finish the year down nearly 14% YOY, up from the second quarter’s revised forecast of a 6% decline.
If retail consumers avoid buying new vehicles because of high inflation and interest rates, then OEMs may route more of them into fleet and lease channels.
Hurricane damage, high interest rates, softening used values, and a slowing economy will all have some effect on the coming used vehicle market. The greater issue is even lower sales — as the historic decline in the lease return rate from 2022 meets up with a big drop in lease maturities and lower dealer consignments.
A Cox Automotive Mobility white paper delves into "a perfect storm of bottlenecks" for vehicle electrification as supply chain and economic pressures mount.
Chuck Parker, CEO and publisher of the Automotive Information Network (AIN) Media, the fleet industry’s first all-digital publishing company, passed away on Sept. 21, 2022. He was 88.
Cox Automotive Mobility will help fleets convert to electric vehicles and modernize while expanding its fleet of mobile service trucks outfitted with on-demand charging for EV fleet customers.
Peter Grupposo succeeds Holly Capps overseeing the commercial sales, dealer sales and market insights teams for Manheim and NextGear Capital.
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