Despite squeezed supply, the used-vehicle market has been playing a key role in the recovery of the automotive industry.
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Demand is strong and expected to break records in 2022 because CPO fits an important sweet spot in the vehicle market.
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Available inventory is still down 62% behind the same period in 2020. The days' supply as of December remained 48% below Dec. 2020.
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December 2021 numbers show the accumulating effects of supply chain shortages, price inflation, and static media incomes.
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Despite the interest in EVs, cost remains a critical barrier for fleet managers, particularly the larger upfront costs known to deter EV adoption.
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The average price paid for a new non-luxury vehicle in December 2021 was $43,072, slightly down from the record high set in November but still $900+ over sticker.
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The new company will be known as NewALD and will give the business extensive global reach with a total of 3.5 million vehicles under fleet management.
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Combined sales into large rental, commercial, and government buyers were down 32% year over year in December and down 4% full-year 2021 versus 2020.
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Manheim Forecast: Tax refunds and a supply-constrained market will likely lead to another round of price increases in the first half of 2022
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Fleet sales year to date are also down 42% from the same time in 2019 when 2.8 million vehicles were sold.
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