The decreases appear in a market where days' supply and listing prices are rising.
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Used vehicle sales increased during August to the highest level since October 2021, but U.S. auto dealers still see the current used-vehicle market as poor.
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The average used-vehicle listing price was $25,571, up slightly from the revised $25,536 at the start of April but down 6% from a year earlier.
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CAR 2024: An all-star panel of economists and data analysts find that used/wholesale vehicle prices and values will remain above the previous “normal” levels last seen in the late 2010s.
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The devices will capture electric vehicle battery health information and transmit that information to Manheim CRs and vehicle detail pages, where battery health information will be displayed on Manheim.com listings.
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Prices in all vehicle market classes dive by double-digit teen percentages with electric vehicles down the most by 19% compared to March 2023.
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CAR 2024: The Conference of Automotive Remarketing will bring together four leading economists and analysts for an annual presentation and discussion.
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The days’ supply is down 16% compared to the start of the year, as sales of used-vehicles picked up in the month and inventory decreased.
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Cox Automotive welcomes a return to normalcy after four years of everything but normal, with nothing in the data suggesting vehicle market surges in any direction.
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While the used vehicle market is not fully back to normal, it shows signs of more stability and balance.
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