Lower than normal depreciation trends are driving the used wholesale vehicle industry so far this month.
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Sales conversion continued to rise and held at much higher levels than prior years for the month as more buyers came to markets to replenish supply for used retail inventory.
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The industry overall is seeing a strengthening trend in wholesale used vehicle market values.
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The market is starting to see lower lease maturities for the key 3-year-old segment, and those effects will be felt over the rest of this year and into 2025 and 2026.
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Clients who rely on MMR can now benefit from even more precise vehicle values that account for high-value options like heated seats, adaptive cruise control, and more.
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A mid-month measure shows a slight increase in prices in June but continued lower price levels compared to 2023.
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While some weakening in the market over the Memorial Day weekend is seasonally normal, May saw more market softening in the latter half of the month.
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Wholesale flattens mid-month, while used retail vehicle sales rose slightly but are still down compared to last year.
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CAR 2024: An expert executive from JD Power shares the global firm’s latest analytics and insights on the used and new vehicle markets and the current and future state of electric vehicles.
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CAR 2024: The latest analysis from the National Auto Auction Association shows a stabilizing auction sector moving faster but still a long way from pre-pandemic years.
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