Analysis: The Fed wants to see less credit flowing as part of their plan to induce pain, and it's working. Are they taking enough time to see the effects of their moves before doubling down?
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NAAA Remarketing Outlook: High vehicle prices, low inventory, solid resale values, and an enigmatic economy are taking the normality out of used and new vehicle sales.
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Peter Grupposo succeeds Holly Capps overseeing the commercial sales, dealer sales and market insights teams for Manheim and NextGear Capital.
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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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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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IARA Summer Roundtable: In a free-wheeling interview, entrepreneur and used car industry disruptor Ernie Garcia delivers insights on his mega-merger deal and a customer-friendly e-commerce model.
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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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All major market segments saw seasonally adjusted prices that were higher year over year -- but declined -- in the first half of August.
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Higher prices and higher interest rates are slowing the seasonally adjusted annual rate of sales in the used market.
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Used vehicles are tracking at a fairly normal pace for supply. Sales have slowed compared to the strong pace in the summer of 2021, but are still relatively healthy.
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