Economic Twists and Turns Jolt Vehicle Markets
NAAA Remarketing Outlook: High vehicle prices, low inventory, solid resale values, and an enigmatic economy are taking the normality out of used and new vehicle sales.
NAAA Remarketing Outlook: High vehicle prices, low inventory, solid resale values, and an enigmatic economy are taking the normality out of used and new vehicle sales.
Wholesale prices had been moving downward for most of the year and decreased 4% in August from July, widening the divergence with retail prices.
But don't get too excited. Days supply is still far below historical levels and production has yet to catch up to demand.
Year to date, the total used market is on pace to finish the year down more than 12% recorded in 2021.
A panel at the National Auto Auction Association convention delves into the emerging challenges facing adoption of electric vehicles.
IARA Summer Roundtable: In a free-wheeling interview, entrepreneur and used car industry disruptor Ernie Garcia delivers insights on his mega-merger deal and a customer-friendly e-commerce model.
The annual National Auto Auction Association Convention returned last week after a three-year in-person hiatus where it recognized numerous achievements among industry members.
The average price paid for a new vehicle in America now tops $48,000. Supply of popular segments – like subcompacts, hybrids and EVs – remain low.
Combined sales into large rental, commercial, and government fleets were up 14.6% year over year in August.
Sales into commercial fleets were up 37% and sales into government fleets were up 28% last month compared to August 2021.
Cox estimates that used retail sales increased 11% in August from July and that used retail sales were down 9% year over year.
The companies are collaborating on an electric vehicle-specific valuation influenced by the condition of the battery, the most expensive part of an EV.
IARA Summer Roundtable: A panel of economists laid out a mash up of economic indicators and remarketing industry signals that show the worst is over since 2020. But how much improvement lies ahead?
An iseecars.com study finds electric car prices saw an increase of 54% in July from the same month last year while gas-powered cars were up just 10%.
IARA Summer Roundtable: Electrification expert Kristin Slanina supercharged the annual consignors and remarketers conference with a step-by-step hopeful outlook for adopting, using, and reselling EVs.
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