The conversion rate indicates that the first 15 days of August saw buyers with more bargaining power for this time of year.
While inventory is up substantially compared to 2021 and 2022 levels, it remains low by historical standards.
The Manheim Market Report values saw above-average declines that were relatively consistent, with values declining almost 4% in the last four weeks.
With production levels returning to normal and retail demand only modestly improved, sales to fleet channels have increased dramatically.
Overall sales are up in the quarter, including for fleets. However, headwinds are growing and inventory levels are moving back above the pre-pandemic normal, suggesting a slowing of demand.
With the goal of eliminating breakdowns for its customers, the combined companies can provide fleet operations complete services backed by fleet experts and a wide provider network.
Tracking wholesale prices, used vehicle values, sales, and supply trends across the industry unveils a broad picture: We're getting closer to normalcy.
Cox Automotive Mobility will help fleets convert to electric vehicles and modernize while expanding its fleet of mobile service trucks outfitted with on-demand charging for EV fleet customers.
The partnership between Cox Automotive Mobility and Spiers New Technologies adds new service centers to support the transition to electric vehicles.
While prices and supply stabilize somewhat, the overall supply is far below historical levels, said Charlie Chesbrough, Cox Automotive senior economist.
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