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Used Sales Hit Summer Drag
The vacation season, combined with high prices, has dented deliveries and added to inventories, though supply is still slim enough to keep listings elevated.
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AE Magazine
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SEARCHMENUSEARCHThe vacation season, combined with high prices, has dented deliveries and added to inventories, though supply is still slim enough to keep listings elevated.
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With two weeks of the new year now behind us, the trends that we ended 2022 with are continuing into 2023.
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Average vehicle transaction prices continue to soar, according to data released by Kelley Blue Book.
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With 2022 fully in the rearview mirror, we can begin to evaluate the years performance: the overall market finished down 22.9%, with Cars down 22.7% and Trucks down 23%.
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U.S. electric vehicle purchases climbed to 5.8% of all vehicles sold in 2022, up from 3.2% in 2021, according to Motor Intelligence.
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The Detroit automaker sold 1.86 million vehicles in 2022, down from 1.91 million in 2021.
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In the fourth quarter, Stellantis reported new vehicle sales declined 16% to 347,669 vehicles.
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The year closed out with another week of above average weekly depreciation.
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Sales of new automobiles plunged to under 14 million vehicles in 2022, the lowest since 2011, reports Kelley Blue Book.
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With the holidays approaching, auction lanes are following the trend of past weeks of being slow.
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The most recent Consumer Price Index from the U.S. Bureau of Labor Statistics shows a slight but promising decline in used car prices.
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