Vehicle buyers are seeing a favorable purchasing window, with factors such as declining prices, improving used vehicle credit rates, and continued gains in credit availability.
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Better affordability compared to new vehicles and a larger selection of newer model year vehicles rank among the drivers of this market.
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Manufacturer sales, including off-rental units repurchased by the OEMs, soared more than 80% year-to-date compared to last year.
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But sales remain strong, up 7% compared to the previous year, as the used market offers a better value for consumers avoiding pricier new cars.
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Commercial activity continued to power sales growth in September while sales of vehicles up to two years old soared.
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Wholesale values remain elevated against normal depreciation trends, even with declines in September, and right as tax incentives on EVs end.
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Consumers are buying up electric vehicles ahead of the Inflation Reduction Act’s tax credit expiration amid strong demand and tight inventory.
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Commercial vehicle sales stood out in August due in part to more rental fleet vehicles coming through auto auctions.
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Demand remains strong as affordability challenges in the new market push consumers towards used options, with the market also benefiting from lowering credit rates and improved credit access.
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AI has already evolved into a must-have tool for remarketers to work with greater clarity, make faster decisions, and run smarter digital marketplaces and business operations.
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