During the last two weeks, Manheim Market Report (MMR) prices declined an aggregate of 0.3%, which was less than half of the normal decline for this time of year.
While the total supply of unsold used vehicles is down from the same time a year ago, they are up from the end of June.
While sales stalled a bit after mid-February compared to 2022, at mid-year the market is not getting worse with small percentage increases.
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.
The Manheim Market Report values saw above-average declines that were relatively consistent, with values declining almost 4% in the last four weeks.
Clients will also see a cleaner interface and more trustworthy estimated retail values.
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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.
Analysis: Consumers are repairing vehicles and holding them longer to avoid historically high used-car prices. The real question is: How long will used inventory remain tight and prices above normal?
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