New Vehicle Prices to Sustain Record Highs
Average transaction prices (ATP) have been above the average manufacturer’s suggested retail price (MSRP) for more than a year.
Average transaction prices (ATP) have been above the average manufacturer’s suggested retail price (MSRP) for more than a year.
After volatile highs and lows during the last three years, the market should hit equilibrium in the second half of 2023.
A lower than normal sales conversion rate indicated December saw buyers with more bargaining power than typically seen for this time of year.
After fleet sales ran far below historical averages for the last three years, increases in 2023 won't be close to levels before 2020.
At the end of November, unsold used vehicles on dealer lots was about 4% higher than a year ago, with an average list price of $27,156.
Days’ supply by end of November was 77% higher than at the same time a year ago and the highest since March 2021. While inventory is up from recent levels, it remains low by historical standards.
The used car retailer that bought the ADESA auction group this year blames high used car prices and rising interest rates for sinking consumer demand.
The luxury vehicle share sold increased to above 18% of total sales, lifting overall industry ATP, while non-luxury vehicle buyers on average paid more than $500 above sticker price.
All eight major market segments again saw seasonally adjusted prices that were lower year over year last month, with compact cars showing the smallest decline.
GM has overtaken Ford as the leader in the commercial channel, Ford remains on top in government fleet sales, while Stellantis’ share dropped.
Three of Cox's companies are partnering up to help navigate the challenges of finding more vehicles in a constricted market.
Executive vice president Chuck Tapp will replace the longtime remarketing industry executive who last year oversaw the merger of XLerate Group and America’s Auto Auction.
Fleet experts shared their insights on remarketing upfits and equipment in the work truck industry.
Declines in Manheim Market Report prices, days' supply, and average daily sales conversion rates are following typical patterns for November.
Days’ supply in October was 26% above year-ago levels. Used-vehicle inventory has been holding at about this level since mid-January.
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