New-Vehicle Supply Still Low but Starting to Stabilize
As August opened, inventories were running 53% below 2020 levels and 68% below 2019 levels.
As August opened, inventories were running 53% below 2020 levels and 68% below 2019 levels.
The company's second quarterly report in a row highlights key aggregate metrics for the auction industry.
On a year-over-year basis, all major market segments saw seasonally adjusted price increases in July.
Large rental, commercial, and government purchases of new vehicles increased 6% compared to this time in 2020, but decreased by 40% from the same time in 2019.
The annual conference will offer plenty to talk about and act on as the remarketing industry strategizes for a reset marketplace.
The latest trends in key indicators suggest wholesale used vehicle values will continue to see depreciation in the days ahead.
Chip shortages and surging demand are squeezing used vehicle sales while inflating prices.
For the first time in a decade, vehicle buyers were essentially paying sticker price (MSRP) for new vehicles.
Key reasons: Prices paid moved higher, incentives declined, and estimated median incomes fell.
The pilot program underway at two sites to expand capabilities will provide more vehicle data to clients.
Market watchers had been expecting this slowdown to come earlier in the summer, but deals could still be made. Now there just isn’t enough product available.
Digital transactions have grown tremendously at XLerate over the last five years, and digital is a key component of its omnichannel, go-to-market strategy.
The Manheim Used Vehicle Value Index hit a record high of 203, and likely won't reach into the 200s again for several years.
Survey: Car dealers are most optimistic when traffic is good, profits are strong, and when new and used vehicles prices are high.
Auctions, consignors, and transporters can use a new, connected mobile application that helps tighten the chain of custody, ease communication, and create transparency.
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