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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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U.S. auto dealers cite a poor economy, higher interest rates and low inventory as the reason why, finds the Cox Automotive Dealer Sentiment Index.
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November’s SAAR of 14.1 million units rose 7.9% compared to November 2021 but was down 6.5% compared to October 2022.
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After the slowdown in depreciation during the week of Thanksgiving, the depreciation picked up the pace once again last week, but the overall market did not experience the level of declines seen before the holiday.
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But analysts predict used vehicle prices will remain higher than pre-pandemic prices for years to come.
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Last week was a short week with the Thanksgiving holiday, and the auction results reflected this with the level of declines continuing, but at the lowest level we’ve seen since the third week of July.
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For the first time in recent history, some vehicles have appreciated in value or depreciated less than expected, finds a recent iSeeCars study.
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Report shows interest rates, continued high prices cramping volume.
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Used Retail Prices are more accessible than in years past, due to the proliferation of ‘no-haggle pricing’ for used-vehicle retailing.
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Entering a vehicle's VIN number connects to an online database of over 500 million records.
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Dealership profits have peaked due to rising interest rates, inflation, and low consumer confidence, but they are still 2.4x higher than before the Pandemic.
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