
War Toll a Damper on Used Auto Prices
Cox Automotive found wholesale depreciation to be elevated in September amid high fuel prices and this year's unusual hurricane season.
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Cox Automotive found wholesale depreciation to be elevated in September amid high fuel prices and this year's unusual hurricane season.
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It is now clear that like 2020, 2021 will also not have typical seasonality patterns as the market is going through a rapid increase in wholesale values.
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The survey was conducted on May 13, a time of significant disruption and fuel shortage up and down the East Coast.
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The Detroit 3 has taken the biggest hit as automakers tweak production to manage the crisis.
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Auto loan originations and leases to subprime borrowers fell to just 15% of the total in the first quarter, reported the New York Federal Reserve.
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vAuto reports vehicle inventories dropped to 2.24 million vehicles in April, representing a 44-day supply.
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New inventory is not expected to see improvement until the third quarter of this year, so values are expected to remain at elevated levels throughout the summer.
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Join Connected Dealer Services at AE Experience on Monday, May 24.
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It’s more essential now than ever to capture customers as they’re starting the car buying process, and the first impression is happening online. It’s time to make sure yours is the best it can be.
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The Bureau of Labor Statistics reports the cost of previously owned sedans, pickups, and SUVs climbed 10% in April, accounting for over one-third of the 0.8% CPI increase.
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The automaker bases this assessment on a belief that electric vehicles will not catch up to gasoline-powered vehicles in terms of cost and convenience by 2030.
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