The State of the Wholesale Used-Vehicle Market
With the help of industry experts, Automotive Fleet takes a look at the current state of the used-vehicle market and what the near future may hold.
Black Book, National Auto Research
Manheim
Insurance Auto Auctions
With the help of industry experts, Automotive Fleet takes a look at the current state of the used-vehicle market and what the near future may hold.
October figures show buyers are much more aggressive in purchasing than is typically the case in the fall. Combined sales into large rental, commercial, and government buyers were down 24% year-over-year in October.
But volume for rental, commercial, and government vehicle purchases is still well below levels seen in the pre-pandemic year of 2019.
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Part and labor prices have increased 4-8%, while part and labor availability have decreased. Due to difficulties sourcing replacement vehicles, fleets are keeping units in service longer. This caused repair spend to increase in 2021.
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The latest quarterly report from AutoIMS underscores the trends steering the remarketing and auction industries.
Many tire OEMs have increased prices in CY-2021, ranging from 3-10% depending on type of tire and size. Higher commodity prices and increased ocean freight rates are being passed on to end users as OE profit margins compress.
Dealers get more time to file an arbitration claim when they buy online and ship with Ready Logistics.
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.
Double whammy: New-vehicle inventory falls below 1 million units in September while the average new vehicle price tops $45,000 for the first time.
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