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Almost all major market segments saw seasonally adjusted prices that were again lower year over year in the first half of October.
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September auction sales bolstered prices through the channel, but wholesale is at a crossroads, mainly from concerns about the UAW strike possibly slowing new retail sales and moving buyers into the used market.
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With sales slightly stronger than expected, tight supply, and prices at about 6% below last year, these factors are expected to prevent any substantial decline in wholesale prices through year-end.
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The conversion rate indicates that the first 15 days of August saw buyers with more bargaining power for this time of year.
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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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The vehicle scans will check vehicle exteriors, undercarriage components and tires to quickly produce online user-friendly reports that include high-resolution photos.
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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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Declines in Manheim Market Report prices, days' supply, and average daily sales conversion rates are following typical patterns for November.
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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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TradeRev chooses one of its co-founders who brings deep experience in the retail and wholesale sides of the automotive marketplace.
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