Wholesale used-vehicle prices decreased 2.3% in October from September and were down 4% from a year ago.
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October’s price decline is eerily similar to last October’s 2.2% drop, and this was not unexpected as the market remains balanced.
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Applying deep data science to vehicle inventory management can spur more accurate pricing models in real-time.
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Almost all major market segments saw seasonally adjusted prices that were again lower year over year in the first half of October.
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September auction sales bolstered prices through the channel, but wholesale is at a crossroads, mainly from concerns about the UAW strike possibly slowing new retail sales and moving buyers into the used market.
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With sales slightly stronger than expected, tight supply, and prices at about 6% below last year, these factors are expected to prevent any substantial decline in wholesale prices through year-end.
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The conversion rate indicates that the first 15 days of August saw buyers with more bargaining power for this time of year.
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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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Wholesale supply has increased with weaker purchase activity in early July, yet it is otherwise normal for this time of year.
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Upside provides a way to generate profits in wholesale or retail, so they can take in more trades and close more retail deals, and is a way to link buyers and sellers nationwide.
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