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The lack of new-vehicle inventory is steering many dealers and consumers into the used-vehicle market, resulting in higher prices for both wholesale and retail used vehicles.
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After edging higher for a couple of months, available supply dipped by the end of August.
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Tight vehicle inventory continues to vex the auto industry while high prices deter buyers.
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The profit index sets another record high, while the price pressure index increased modestly.
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As August opened, inventories were running 53% below 2020 levels and 68% below 2019 levels.
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Monitoring your vehicles and keys is crucial. GPS tracking systems, parking lot security cameras, rental management software and check-in scanners can all help.
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