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Our editorial staff has selected and edited this news release for clarity and brand style because we believe it is relevant to our audience.
Next Inspect helps automakers, captive lenders, and fleet owners capture more accurate vehicle conditions to inform buying decisions.
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For the second month in a row, average transaction prices undercut manufacturer's suggested retail prices, reversing a prior 20-month trend.
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Major automakers appear to be preemptively pulling the fleet lever to stymie any significant increase in retail inventory.
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Conditions have shifted to favoring buyers; but with tight supply, the market is close to a balance between buyers and sellers.
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The renaming caps an evolving strategy for consolidating online and digital auction marketplaces into a more streamlined whole that speeds up vehicle transactions.
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While inventory is up from 2022 levels, it remains low by historical standards. Meanwhile, the estimated typical monthly payment for a new vehicle declined to $754 from the peak of $791 in Dec. 2022.
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Prices usually decline in the first two weeks of April, but in each of the last two years prices increased substantially during these same weeks, the Manheim Index shows.
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After closing out 2022 with the longest-running, sharpest decline over a single year, wholesale used vehicle prices have risen in 2023.
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The movement of new vehicles into fleet increases at a consecutive monthly pace with supply freeing up after several years of constraints, according to Bobit fleet data.
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Ford's recent confirmation that Transit Connect sales will stop in North America follows a trend of automakers ending sales of their small vans.
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