Used-Vehicle Prices Average Just Under $27,000
But days’ supply climbed to 43 in September, the highest it has been in months, on higher inventory and slower sales.
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.
The seasonally adjusted annual rate (SAAR) of sales declined to 35.7 million, down from 40.9 million in September 2020.
With high prices and fast sales, dealers are selling cars before they get a chance to pull them into their shops to recondition them up to full CPO standards.
The lack of new-vehicle inventory is steering many dealers and consumers into the used-vehicle market, resulting in higher prices for both wholesale and retail used vehicles.
After edging higher for a couple of months, available supply dipped by the end of August.
Tight vehicle inventory continues to vex the auto industry while high prices deter buyers.
CPO sales are up 12% versus the same time in 2020 and are marginally above the same period in 2019 when a record-high 1,900,589 units were sold.
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 third-party battery health diagnostic tool will strive to become the industry standard to assess the condition and value of EV batteries.
KAR expects to be immediately profitable across its North American dealer-to-dealer platforms while enhancing its position in the highly fragmented wholesale used vehicle market.
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.
CEO Yossi Levi, founder was named winner of the Entrepreneur Of The Year 2021 Greater Philadelphia Award.
The mid-month Manheim Used Vehicle Value Index is still up 18% year over year.
As vintage Chevrolet trucks increase in popularity with enthusiasts, more trucks are going up for auction and sale prices for the most coveted trucks keep increasing. As we look back at 100 years of Chevy truck history, here’s a gallery of the nine most expensive Chevrolet trucks sold at Barrett-Jackson auctions to date. Photos courtesy of General Motors.
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