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Higher prices and higher interest rates are slowing the seasonally adjusted annual rate of sales in the used market.
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The Commercial Vehicle Safety Alliance plans to address a growing problem of brake systems and brake adjustment violations during its annual Brake Safety Week running Aug. 21-27.
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The used market this year is feeling the effects of high-inflation and elevated used-vehicle prices. Sales continue to be soft, but the market is not under stress
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The top five European markets registered 6.5 million fewer vehicles in 2020 and 2021 compared to the previous two years. As the used market depends on new vehicles to push stock through, further pressures are inevitable.
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ANALYSIS: Used cars will no longer contribute to inflation. They should be a source of deflation in the months ahead.
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While prices and supply stabilize somewhat, the overall supply is far below historical levels, said Charlie Chesbrough, Cox Automotive senior economist.
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According to data from Kelley Blue Book, the average transaction price (ATP) for a new vehicle surpassed the $48,000 mark in June, the highest ATP on record.
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Cox says the appointments are part of a strategic move to strengthen existing customer relationships in addition to developing new business.
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Q2 sales of battery electric vehicles increased to 196,788, a record high and a 13% increase from last quarter.
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The downward trend continues, as June CPO sales were down 1% from May’s sales stats.
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