Compared to last month, wholesale used vehicle prices are down 1.3%, but year over year, prices are up 10.7%.
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The average listing price as May closed dipped to $28,312, compared with a revised $28,372 at the end of April.
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Insights from the "cereal box" workshop at the 2022 Conference of Automotive Remarketing show how consignors and auctions can be creative in accurately pricing wholesale vehicles.
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The average listing price at the end of April was $28,365, surpassing the $28,000 mark for the first time since December 2021.
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Combined sales into large rental, commercial and government buyers were up over 4% year over year in April.
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At the end of March, the average listing price was $27,246, off record levels in December when it surpassed $28,000. The list price was down some from the end of February when it was a revised $27,609.
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The second quarter – especially April – will be the strongest part of the year for used vehicle sales and values, and then slow down but not crash.
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On a month-over-month basis, all major segments saw seasonally adjusted price declines, with pickups declining the most.
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The average listing price dipped again to $27,608, still off the December peak when it surpassed $28,000. But the average listing price was 28% above that of February 2021.
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All major market segments saw seasonally adjusted prices that were higher year over year in the first half of March.
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