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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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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.
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The companies are collaborating on an electric vehicle-specific valuation influenced by the condition of the battery, the most expensive part of an EV.
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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?
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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%.
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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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All major market segments saw seasonally adjusted prices that were higher year over year -- but declined -- in the first half of August.
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Used vehicles are tracking at a fairly normal pace for supply. Sales have slowed compared to the strong pace in the summer of 2021, but are still relatively healthy.
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The used market this year is feeling the effects of high-inflation and elevated used-vehicle prices. Sales continue to be soft, but the market is not under stress
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