High prices and relatively tight inventory keep more buyers at bay.
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The mid-month Manheim Used Vehicle Value Index is still up 18% year over year.
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The digital platform enables consumers to transact 100% online.
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Chip shortages and surging demand are squeezing used vehicle sales while inflating prices.
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The Manheim Used Vehicle Value Index hit a record high of 203, and likely won't reach into the 200s again for several years.
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Demand has been healthy, inventories tight, and dealers have felt little pressure to lower prices.
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On a year-over-year basis, all major market segments saw seasonally adjusted price increases in April.
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Strong spring sales thanks to tax refunds and stimulus checks depleted the supply.
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While the COVID-19 pandemic slowed remarketing efforts for some fleets and ramped them up for others over the past year, 2021 fleet remarketing is looking better for most everyone.
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The industry quickly turned to online services when the pandemic hit, utilizing digital-only sales, which ultimately kept the industry from halting completely.
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