Wholesale prices had been moving downward for most of the year and decreased 4% in August from July, widening the divergence with retail prices.
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But don't get too excited. Days supply is still far below historical levels and production has yet to catch up to demand.
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Year to date, the total used market is on pace to finish the year down more than 12% recorded in 2021.
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The annual National Auto Auction Association Convention returned last week after a three-year in-person hiatus where it recognized numerous achievements among industry members.
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The average price paid for a new vehicle in America now tops $48,000. Supply of popular segments – like subcompacts, hybrids and EVs – remain low.
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DAAG expands its footprint to nine locations throughout the Southeast.
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Combined sales into large rental, commercial, and government fleets were up 14.6% year over year in August.
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Sales into commercial fleets were up 37% and sales into government fleets were up 28% last month compared to August 2021.
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Cox estimates that used retail sales increased 11% in August from July and that used retail sales were down 9% year over year.
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The companies are collaborating on an electric vehicle-specific valuation influenced by the condition of the battery, the most expensive part of an EV.
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