The used market this year is feeling the effects of high-inflation and elevated used-vehicle prices. Sales continue to be soft, but the market is not under stress
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All major market segments once again saw seasonally adjusted prices that were higher year over year in July.
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Recurrent CEO Scott Case details the progress in accurately assessing the quality and value of a battery to determine the resale value of a used electric vehicle in in this episode of The Off-Peak.
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The second quarter – especially April – will be the strongest part of the year for used vehicle sales and values, and then slow down but not crash.
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The average listing price dipped again to $27,608, still off the December peak when it surpassed $28,000. But the average listing price was 28% above that of February 2021.
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All major market segments saw seasonally adjusted prices that were higher year over year in the first half of March.
Read More →Combined sales into large rental, commercial, and government buyers were down 30% year over year in February. Sales into rental were down 52% YOY.
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The latest trends in the key indicators suggest wholesale used-vehicle values will likely see further declines in the second half of the month.
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With record numbers of lease-holders choosing to keep instead of return their leased vehicles, the pool of available CPO-eligible inventory is lower than usual.
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As was the case in each of the last prior months, much of the reported increase was a result of the seasonal adjustment.
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