Despite squeezed supply, the used-vehicle market has been playing a key role in the recovery of the automotive industry.
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Combined sales into large rental, commercial, and government buyers were down 32% year over year in December and down 4% full-year 2021 versus 2020.
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Manheim Forecast: Tax refunds and a supply-constrained market will likely lead to another round of price increases in the first half of 2022
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During the first 15 days of December, the Manheim Used Vehicle Value Index hit 239.8, a 49% increase from December 2020.
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Available inventory edged slightly higher but remain below normal.
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Despite constrained inventory, the used-vehicle market has been playing a key role in the automotive industry recovery.
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Meanwhile, used supply normalizes, rental risk pricing declines, and auto loan performance deteriorates.
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With the help of industry experts, Automotive Fleet takes a look at the current state of the used-vehicle market and what the near future may hold.
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October figures show buyers are much more aggressive in purchasing than is typically the case in the fall. Combined sales into large rental, commercial, and government buyers were down 24% year-over-year in October.
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But days’ supply climbed to 43 in September, the highest it has been in months, on higher inventory and slower sales.
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