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Surprice Opens Two Rental Branches In Japan
The launch highlights the global car rental operation’s growing presence in Asia.
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SEARCHMENUSEARCHThe launch highlights the global car rental operation’s growing presence in Asia.
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The annual event takes place as the vehicle market and wider economy get more complicated and more industry members are eager to gather after a long pandemic pause.
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Auctions received vehicles from a more diverse stream of sources in the last quarter as data could be signaling some inflection points in the market.
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Rising interest rates and low consumer sentiment are keeping many potential buyers out of the market while higher gas and vehicle prices are decreasing affordability.
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ANALYSIS: Used cars will no longer contribute to inflation. They should be a source of deflation in the months ahead.
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Higher interest rates, coupled with high gasoline prices and high vehicle prices, are keeping used sales in Q2 low.
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While prices and supply stabilize somewhat, the overall supply is far below historical levels, said Charlie Chesbrough, Cox Automotive senior economist.
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The downward trend continues, as June CPO sales were down 1% from May’s sales stats.
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Compared to last month, wholesale used vehicle prices are down 1.3%, but year over year, prices are up 10.7%.
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The typical monthly payment hits a record of $712.
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The average listing price as May closed dipped to $28,312, compared with a revised $28,372 at the end of April.
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