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CAR 2023: What happens when you put four remarketing economists and analysts in one room? Lots of data, predictions, trends, and uncertainty.
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Prices usually decline in the first two weeks of April, but in each of the last two years prices increased substantially during these same weeks, the Manheim Index shows.
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Days’ supply in October was 26% above year-ago levels. Used-vehicle inventory has been holding at about this level since mid-January.
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All eight major market segments saw seasonally adjusted prices that were lower year over year in October.
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All eight major market segments saw seasonally adjusted prices that were lower year over year in the first half of October.
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Higher interest rates are likely hurting used-vehicle demand because consumers can’t afford the higher monthly payments.
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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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Wholesale prices had been moving downward for most of the year and decreased 4% in August from July, widening the divergence with retail prices.
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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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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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