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Analysis: Consumers are repairing vehicles and holding them longer to avoid historically high used-car prices. The real question is: How long will used inventory remain tight and prices above normal?
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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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The luxury vehicle share sold increased to above 18% of total sales, lifting overall industry ATP, while non-luxury vehicle buyers on average paid more than $500 above sticker price.
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See how Cox Automotive scored when its earlier outlook met the economic and market realities so far this year.
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Analysis: The Fed wants to see less credit flowing as part of their plan to induce pain, and it's working. Are they taking enough time to see the effects of their moves before doubling down?
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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.
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But don't get too excited. Days supply is still far below historical levels and production has yet to catch up to demand.
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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.
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Sales into commercial fleets were up 37% and sales into government fleets were up 28% last month compared to August 2021.
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