All major market vehicle segments saw price declines year over year and all were down compared to the previous months, except for one.
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While CPO outperformed total and retail used-vehicle sales in May, CPO sales are most likely muted due to high prices, declining credit availability and high interest rates.
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The unified platform creates one of Canada’s largest digital wholesale marketplaces for used vehicles, providing buyers and sellers with easier transactions.
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Finding the right product at the right price is more challenging for used vehicle buyers today, amid higher interest rates and recession fears.
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Conditions have shifted to favoring buyers; but with tight supply, the market is close to a balance between buyers and sellers.
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CAR 2023: A closing keynote presentation draws on data and information from J.D. Power on EV adoption hurdles in the years ahead.
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Buyers in the used, new, and remarketed vehicle segments should expect continued growth in used electric vehicle sales as availability increases and retail prices decrease.
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After closing out 2022 with the longest-running, sharpest decline over a single year, wholesale used vehicle prices have risen in 2023.
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Although prices are falling, they likely won't decline too much given the tighter inventory compared to 2021.
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Used vehicle prices are declining in this divergent market. Fleet sales making a comeback compared to last year.
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