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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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2021 MY off-lease vehicles are flowing into the market but will ease for the rest of this year reflecting the slower sales and leasing pace of late 2021.
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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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The widely quoted and ever-present stalwart of the vehicle remarketing industry has been a near-universal presence at industry events and throughout related business media.
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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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Monthly YOY and year-to-date sales point to a commercial fleet sector moving more vehicles into remarketing channels during the last six-plus months.
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Sales conversion is running several points above the previous three years, including 2021, indicating that buyer demand is relatively strong despite all the uncertainty in the market.
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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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