Used Vehicle Supply Limited at November Start
Wholesale used-vehicle prices decreased 2.3% in October from September and were down 4% from a year ago.
Wholesale used-vehicle prices decreased 2.3% in October from September and were down 4% from a year ago.
October’s price decline is eerily similar to last October’s 2.2% drop, and this was not unexpected as the market remains balanced.
Applying deep data science to vehicle inventory management can spur more accurate pricing models in real-time.
Lauren Baker worked in leadership and client roles with PHH and Element Fleet Management.
While the UAW strike has slowed output at auto factories nationwide, the fallout has not fully hit consumers in dealer showrooms.
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Almost all major market segments saw seasonally adjusted prices that were again lower year over year in the first half of October.
According to Vincentric, fleet cost per mile for most vehicle categories decreased slightly in the third quarter, while the Pickup and SUV categories remained the same.
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The overall used-vehicle inventory volume is still considered limited and has been stuck in the 2.2 million to 2.3 million range for the past four months.
September auction sales bolstered prices through the channel, but wholesale is at a crossroads, mainly from concerns about the UAW strike possibly slowing new retail sales and moving buyers into the used market.
The fourth quarter should bring stable pricing among buyers and sellers, which should reflect only modest changes between now and the end of the year.
Since the labor actions started Sept. 15, the U.S. has ample inventory for now from the Detroit automakers that should keep steady supply through the end of the month. The all-important Ford F-150 had 97 days of supply at the start of October.
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