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Tight supply in wholesale and retail vehicle markets will support healthy dealer demand through December.
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Monthly and year-to-date vehicles sales at auctions reflect strong commercial sales growth this year.
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Monthly YOY and year-to-date sales point to a commercial fleet sector moving more vehicles into remarketing channels during the last six-plus months.
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Wholesale flattens mid-month, while used retail vehicle sales rose slightly but are still down compared to last year.
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Over the last two weeks, Manheim Market Report (MMR) prices declined an aggregate of 1.9%, which was more than the normal decline of 1% for the time of year.
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Wholesale used-vehicle prices decreased 2.3% in October from September and were down 4% from a year ago.
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The fourth quarter should bring stable pricing among buyers and sellers, which should reflect only modest changes between now and the end of the year.
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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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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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All eight major market segments again saw seasonally adjusted prices that were lower year over year last month, with compact cars showing the smallest decline.
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