Trends indicate that used-vehicle inventory is tighter despite the monthly rise in vehicles listed.
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Commercial vehicles, electric vehicles, and late model used vehicles all show strong double-digit volume increases.
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Sales trends may have been affected by business disruptions early in October caused by hurricanes Helene and Milton coming back-to-back.
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October typically brings the highest monthly depreciation rates for non-seasonally adjusted values of the year.
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The decreases appear in a market where days' supply and listing prices are rising.
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All major vehicle market segments experienced seasonally adjusted prices that were down year over year in September, although declines in recent months have slowed.
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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 Tesla Model 3, Kia Niro EV, Maserati Levante, Nissan Leaf, Hyundai Kona Electric, and Chevrolet Bolt saw the biggest used vehicle price drops over the past year
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The industry overall is seeing a strengthening trend in wholesale used vehicle market values.
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Retail used-vehicle prices have been consistently lower through the first seven months of 2024 compared to year-ago levels.
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