Tight vehicle inventory continues to vex the auto industry while high prices deter buyers.
The profit index sets another record high, while the price pressure index increased modestly.
CPO sales are up 12% versus the same time in 2020 and are marginally above the same period in 2019 when a record-high 1,900,589 units were sold.
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.
High prices and relatively tight inventory keep more buyers at bay.
The mid-month Manheim Used Vehicle Value Index is still up 18% year over year.
Chip shortages and surging demand are squeezing used vehicle sales while inflating prices.
The Manheim Used Vehicle Value Index hit a record high of 203, and likely won't reach into the 200s again for several years.
On a year-over-year basis, all major market segments saw seasonally adjusted price increases in April.
Strong spring sales thanks to tax refunds and stimulus checks depleted the supply.
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