Wholesale Used-Vehicle Prices Increase in First Half of May
Wholesale flattens mid-month, while used retail vehicle sales rose slightly but are still down compared to last year.
Wholesale flattens mid-month, while used retail vehicle sales rose slightly but are still down compared to last year.
CAR 2024: An all-star panel of economists and data analysts find that used/wholesale vehicle prices and values will remain above the previous “normal” levels last seen in the late 2010s.
With new-vehicle inventory rising in the U.S., downward price pressure and higher incentives appear to be key drivers of the market’s momentum.
The latest numbers more activity in the lanes at Manheim in the second half of the month and finished the last week of February with some of the strongest weekly gains in wholesale prices for many years.
As the wholesale market returns to a new normal following the pandemic, this seminar looks at an overview of the current market, including inventory and pricing, as well as emerging trends.
CAR 2024: The IARA brings together a panel to address one of the biggest challenges for consignors.
CAR 2024: Next generation thinkers will delve into digital strategies that can cut costs, win over customers, and boost profits.
Auto rental companies that have adopted AI-based damage assessment technology see sizable decreases in vehicle downtime and much more customer satisfaction.
For the full year, Cox Automotive estimates sales for used retail were down about 3%, curtailed by a constrained supply of newly used vehicles in the market.
Manheim expects constrained growth with a volume increase of less than 1% in 2024, indicating a return to a more normal market.
Cox Automotive welcomes a return to normalcy after four years of everything but normal, with nothing in the data suggesting vehicle market surges in any direction.
The product leverages artificial intelligence and computer vision technology to provide a virtual overlay of any exterior damage detected on a vehicle, making it easier to spot hail, paint peel, detached panels, broken lights, rust, scratches, dents and cracks.
Analysts are expecting a measured movement through December and the year, which should reach the January forecast for a 4% year-over-year decline.
The improved digital marketplace will provide a secure one-stop-shop experience with best-in-class cross-border services and real-time delivery options.
The recent Fleet Forward Conference presented updates to the fleet, used vehicle, and electric vehicle supply and demand.
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