Wholesale Used Vehicle Prices Inch Up This Month
Declines in Manheim Market Report prices, days' supply, and average daily sales conversion rates are following typical patterns for November.
Declines in Manheim Market Report prices, days' supply, and average daily sales conversion rates are following typical patterns for November.
Days’ supply in October was 26% above year-ago levels. Used-vehicle inventory has been holding at about this level since mid-January.
Days’ supply climbed to 49, the highest since May 2021. The question now is: Will demand keep up with supply?
Higher rates are already shifting access to vehicles and financing towards wealthier consumers as overall affordability declines.
The deal will diversify Ritchie Bros.' truck, construction, and farm equipment customer base by providing it with a larger presence in the vehicle remarketing vertical that has strong industry fundamentals with proven growth.
All eight major market segments saw seasonally adjusted prices that were lower year over year in October.
Some manufacturers may be shifting more of their sales to fleet as they see retail sales soften due to consumer economic concerns.
The slowing economy has driven average vehicle sale and floor prices past a turning point compared to last year.
Analysis: Starting in 2023, the effects of the pandemic-driven slowdown and the changes in leasing will affect the used-vehicle supply by mid-decade.
Frigid temperatures affect the chemical and physical reactions that make batteries work, resulting in longer charging times.
All eight major market segments saw seasonally adjusted prices that were lower year over year in the first half of October.
Higher interest rates are likely hurting used-vehicle demand because consumers can’t afford the higher monthly payments.
Despite elevated vehicle prices, soaring interest rates and high inflation, there are no signs that demand is falling off yet.
September marks a record 16th straight month that new-vehicle ATPs were higher than the average manufacturer’s suggested retail price (MSRP).
Only three of eight major market segments saw seasonally adjusted prices that were higher year over year in September. The full-year Manheim Used Vehicle Value Index forecast is expected to finish the year down nearly 14% YOY, up from the second quarter’s revised forecast of a 6% decline.
The 2016 Conference of Automotive Remarketing (CAR) took place March 16-17 at Caesars Palace, Las Vegas. Now in its 21st year, CAR delivered high-quality discussions and information on subjects ranging from automating the if-bid system to how to maximize auction earnings to a look forward to residual values for 2016-2017. In addition, attendees had plenty of opportunities to network and build their personal and professional connections. Photos by Chris Wolski and Steve Reed.
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