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Wholesale prices appear to have peaked the week before Thanksgiving as weekly prices have declined slightly in each of the last two weeks. But retail prices continue to increase.
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The average listing price of about $27,000 is running 25% above year-ago levels and 38% over pre-pandemic 2019 levels.
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October figures show buyers are much more aggressive in purchasing than is typically the case in the fall. Combined sales into large rental, commercial, and government buyers were down 24% year-over-year in October.
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The Pipeline Market Report is the industry's first information tool driven solely by independent auction sale data, encompassing near real time results from 175+ partner operations.
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Manheim Market Report (MMR) prices saw strong gains through the first two full weeks of October. The latest trends in the key indicators suggest wholesale used vehicle values will likely see further gains in the days ahead.
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After edging higher for a couple of months, available supply dipped by the end of August.
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The sales conversion rate also increased last month and ended at a level higher than typical for August, indicating buyers have become more aggressive than they were in June and July.
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The IARA Summer Roundtable conference balanced a look back at successes while confronting industry challenges ahead.
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High prices and relatively tight inventory keep more buyers at bay.
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The average listing price reached $25,500 as July closed, after surpassing the $25,000 mark for the first time ever in June.
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