CAR 2024: An all-star panel of economists and data analysts find that used/wholesale vehicle prices and values will remain above the previous “normal” levels last seen in the late 2010s.
The total U.S. supply of available unsold new vehicles in November climbed 57%, or 925,000 units, from the same time a year ago.
Supply chains have stabilized while market headwinds from high interest rates and high prices are muting sales.
While inventory is up substantially compared to 2021 and 2022 levels, it remains low by historical standards.
CAR 2023: This big picture spanning OEMs, suppliers and vehicle markets will help inform business strategies that involve the macro-trends redefining the industry.
Retail sales have been trending downward in recent years and that trend is expected to continue as the industry’s supply of gently-used off-lease vehicles continues to grow.
The average sale price for a 3-year-old used vehicle was $14,951 less than its new equivalent in the third quarter of 2019.
The average transaction price for a new light vehicle in the U.S. was $37,590 in September, a 0.6% year-over-year increase, according to Kelley Blue Book.
The average three-year-old used vehicle cost buyers $14,443 less dollars then its new equivalent during the second quarter of 2019, according to the latest Used Vehicle report from Edmunds.
The number of unsold new cars and light trucks at U.S. dealerships reached nearly 3.8 million at the start of August, a 71-day supply.
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