Why Subscription Models May be First Step to EV Adoption
In the middle of historic changes, are subscriptions and car sharing the path for mass electric vehicle adoption?
In the middle of historic changes, are subscriptions and car sharing the path for mass electric vehicle adoption?
Declines in Manheim Market Report prices, days' supply, and average daily sales conversion rates are following typical patterns for November.
Days’ supply in October was 26% above year-ago levels. Used-vehicle inventory has been holding at about this level since mid-January.
Rising interest rates are taking some potential buyers out of the market.
Most loan types saw loosening in October, but certified pre-owned loans loosened the most month over month and year over year.
All eight major market segments saw seasonally adjusted prices that were lower year over year in October.
The supply issues plaguing automotive are ameliorating month over month, but to varying degrees depending on fleet type.
Supply and demand shifts over the last two years have had ripple effects on purchasing patterns, the condition of used assets, and pricing.
The slowing economy has driven average vehicle sale and floor prices past a turning point compared to last year.
All eight major market segments saw seasonally adjusted prices that were lower year over year in the first half of October.
Higher interest rates are likely hurting used-vehicle demand because consumers can’t afford the higher monthly payments.
The electrified digital-driven automotive sector will bring major shifts in how vehicles are bought, sold, and remarketed. Talk with industry expert and author Steve Greenfield as he outlines the big changes ahead.
CPO has been up and down this year as it’s affected by supply and demand, but it should end the year at 2.4 million.
Only three of eight major market segments saw seasonally adjusted prices that were higher year over year in September. The full-year Manheim Used Vehicle Value Index forecast is expected to finish the year down nearly 14% YOY, up from the second quarter’s revised forecast of a 6% decline.
Hurricane damage, high interest rates, softening used values, and a slowing economy will all have some effect on the coming used vehicle market. The greater issue is even lower sales — as the historic decline in the lease return rate from 2022 meets up with a big drop in lease maturities and lower dealer consignments.
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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