Tax Refund Season Boosts Used Vehicle Sales
Total days’ supply at the start of March fell to 44, compared with the revised 53 at the beginning of February, a 20% decline.
Total days’ supply at the start of March fell to 44, compared with the revised 53 at the beginning of February, a 20% decline.
The latest numbers more activity in the lanes at Manheim in the second half of the month and finished the last week of February with some of the strongest weekly gains in wholesale prices for many years.
CAR 2024: The Conference of Automotive Remarketing will bring together four leading economists and analysts for an annual presentation and discussion.
As the wholesale market returns to a new normal following the pandemic, this seminar looks at an overview of the current market, including inventory and pricing, as well as emerging trends.
Meanwhile, used vehicle retail sales pick up in January thanks in part to vehicle prices being down 4% year-over-year, boosting affordability.
The days’ supply is down 16% compared to the start of the year, as sales of used-vehicles picked up in the month and inventory decreased.
The venerable data analytics and consumer insights firm will detail the outlook for the automotive and remarketing sectors and what it means for consignors, auctions, dealers, and fleet operators.
In a first-ever metric compiled by Cox Automotive, seasonally adjusted electric vehicle values ended 2023 down 17%, while non-EVs were down 7.1% for the year.
CAR 2024: The IARA brings together a panel to address one of the biggest challenges for consignors.
Four years after COVID emerged, vehicle prices are easing down amid some supply kinks, electric vehicle uncertainty, rising operational costs, and AI potential.
The industry's first EV-specific valuation algorithm includes proprietary analytics from 100 million real-world EV battery data points.
For the full year, Cox Automotive estimates sales for used retail were down about 3%, curtailed by a constrained supply of newly used vehicles in the market.
All major vehicle segments saw price declines compared to last month, with most categories exceeding the average industry decline.
In another high profile indicator of consumer EV skepticism, the auto rental giant will sell off the EVs to avoid further financial losses.
Manheim expects constrained growth with a volume increase of less than 1% in 2024, indicating a return to a more normal market.
The secure and easy all-access connection to your content.
Bookmarked content can then be accessed anytime on all of your logged in devices!
Already a member? Log In