Used Vehicle Market Slows Down This Spring
Year to date, the total used-vehicle market is on pace to finish down more than 10% from 2021’s 40.6 million total.
Year to date, the total used-vehicle market is on pace to finish down more than 10% from 2021’s 40.6 million total.
With a lack of used vehicles and rental units returning to market, demand continues to outweigh supply. When will the market come back down to earth?
Used vehicle marketplace KAR Global has now sold all of its ADESA U.S. physical auction business to Carvana. KAR will continue to operate its online auction portal Openlane.
The overall used-vehicle market is experiencing a weaker spring than expected
The International Automotive Remarketers Alliance opens registration and releases a schedule for its conference that brings together consignors, auctions, dealers, and finance companies.
After including dealer and manufacturer fleet sales, the total fleet share of all sales was 14%, up 2% from April 2021's fleet share.
Combined sales into large rental, commercial and government buyers were up over 4% year over year in April.
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But they remain off last year's pace because limited new-vehicle inventory has slowed the gently used segment due to fewer trade-ins.
At the end of March, the average listing price was $27,246, off record levels in December when it surpassed $28,000. The list price was down some from the end of February when it was a revised $27,609.
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