Cox Automotive Commentary: The third quarter will be the industry’s toughest in 2021, and our analysts are forecasting second-half sales to finish below first half.
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Survey: Car dealers are most optimistic when traffic is good, profits are strong, and when new and used vehicles prices are high.
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Demand has been healthy, inventories tight, and dealers have felt little pressure to lower prices.
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The pace of price increases sprinted through May, closing the month nearly 25% higher than the same period in 2020 and 2019.
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Commentary: A deluge in demand and a drought in supply are roiling the market.
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The average listing price surpassed the $22,000 mark for the first time ever in April, closing the month at a new high of $22,568.
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While prices bounce up during springtime, this year's qualify as a leap, an economist says.
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Wholesale used vehicle prices increased in the first 15 days of January compared to the month of December, bringing up the mid-month Manheim Used Vehicle Value Index.
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Wholesale used-vehicle prices decreased 0.59% month over month in December 2020, bringing the Manheim Used Vehicle Value Index to 161.1, a 14.2% gain from a year ago.
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Wholesale used vehicle prices increased 0.07% month over month in November, bringing the Manheim Used Vehicle Value Index to 162 a 16.6% increase from a year ago.
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