Wholesale Used-Vehicle Prices Fall Slightly in July
All major market vehicle segments saw price declines year over year and all were down compared to the previous months, except for one.
All major market vehicle segments saw price declines year over year and all were down compared to the previous months, except for one.
All large manufacturers showed gains in fleet over last year, with combined sales into large rental, commercial, and government fleets improving.
The continuing education program for vehicle remarketers will include its first consignor student when it starts in a few weeks.
Overall engagement with the International Automotive Remarketers Alliance has risen across the board in the final stretch before its annual conference.
The new manager brings 18 years of automotive experience, including 14 in management.
Wholesale supply has increased with weaker purchase activity in early July, yet it is otherwise normal for this time of year.
While sales stalled a bit after mid-February compared to 2022, at mid-year the market is not getting worse with small percentage increases.
Upside provides a way to generate profits in wholesale or retail, so they can take in more trades and close more retail deals, and is a way to link buyers and sellers nationwide.
The last several months have closely followed 2019 levels, the last normal year, which means dealers are balancing their inventory to the sales rate and keeping days’ supply steady even as total supply improves.
Visa's global system will be added to Car IQ Pay vehicle wallet, which enables merchants to accept payments from fleets, cars, and trucks.
While inventory is up substantially compared to 2021 and 2022 levels, it remains low by historical standards.
The market is riding upward trends in inventory and sales, although average prices have dropped in the quarter after three straight quarters of increase.
Tesla’s share fell below 60% for the first time, but the No. 2 seller of EVs in the U.S. – Chevrolet – is a distant second. Numbers will fuel the budding used EV market further.
The provider's transportation ordering solution has the potential to improve efficiency, save time, and enhance the post-sale experience for dealers on Pipeline.
Compared to the start of the year, transaction prices for new vehicles are down 1.7%, or $865, the largest January to June tumble in the past decade.
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