But days’ supply climbed to 43 in September, the highest it has been in months, on higher inventory and slower sales.
Manheim Market Report (MMR) prices saw strong gains through the first two full weeks of October. The latest trends in the key indicators suggest wholesale used vehicle values will likely see further gains in the days ahead.
After edging higher for a couple of months, available supply dipped by the end of August.
The sales conversion rate also increased last month and ended at a level higher than typical for August, indicating buyers have become more aggressive than they were in June and July.
The IARA Summer Roundtable conference balanced a look back at successes while confronting industry challenges ahead.
High prices and relatively tight inventory keep more buyers at bay.
The average listing price reached $25,500 as July closed, after surpassing the $25,000 mark for the first time ever in June.
On a year-over-year basis, all major market segments saw seasonally adjusted price increases in July.
The latest trends in key indicators suggest wholesale used vehicle values will continue to see depreciation in the days ahead.
Cox Automotive Commentary: The third quarter will be the industry’s toughest in 2021, and our analysts are forecasting second-half sales to finish below first half.
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