Declines in Manheim Market Report prices, days' supply, and average daily sales conversion rates are following typical patterns for November.
All eight major market segments saw seasonally adjusted prices that were lower year over year in October.
TradeRev chooses one of its co-founders who brings deep experience in the retail and wholesale sides of the automotive marketplace.
Combined sales into large rental, commercial, and government buyers were down 36% year over year in January. Sales into rental declined 61% YOY, sales into commercial increased 4% YOY, and sales into government declined 23%.
As was the case in each of the last prior months, much of the reported increase was a result of the seasonal adjustment.
One of the biggest changes to come out of the second year of the COVID-19 pandemic is dealers directly wholesaling from their lots.
The average 12-month depreciation through the end of November for all vehicles was 12.5%.
The average price for used fleet vehicles fell 2% at auction in October, but remained 6.1% higher than a year ago amid a strong month for wholesale prices, according to Tom Kontos, KAR Auction Services' chief economist.
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