The month also ended at near 41 days’ vehicle supply, down from 48 days at the end of January and 13 days lower than February 2022 at 54 days' supply.
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Future pricing trends of new electric vehicles and resale values of used ones remain undefined and unpredictable for the long-term.
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All eight major vehicle market segments saw seasonally adjusted prices that were lower year over year in January.
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The used-vehicle market faces a challenging year ahead as demand weakens and supply of nearly new vehicles is particularly constrained.
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As the supply of new vehicles improves rapidly, demand and prices for used ones are declining.
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After volatile highs and lows during the last three years, the market should hit equilibrium in the second half of 2023.
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A data partnership between vAuto and Ready Logistics equips dealers to further evaluate a vehicle’s market potential by considering transport costs and time.
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The total supply of unsold used vehicles on dealer lots, both franchised and independents, across the U.S. stood at 2.33 million units at the end of November, about 4% higher than a year ago.
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Days’ supply in October was 26% above year-ago levels. Used-vehicle inventory has been holding at about this level since mid-January.
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All eight major market segments saw seasonally adjusted prices that were lower year over year in October.
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