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All major market segments saw seasonally adjusted prices that were higher year over year -- but declined -- in the first half of August.
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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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Used vehicles are tracking at a fairly normal pace for supply. Sales have slowed compared to the strong pace in the summer of 2021, but are still relatively healthy.
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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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Used vehicle consignor CarLotz will enable Shift to pursue a new business plan focused on allowing consumers to buy vehicles online, sight unseen, for pickup or delivery.
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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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All major market segments once again saw seasonally adjusted prices that were higher year over year in July.
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The German-based mobility group offers a swift service to assess, value, and trade/sell used vehicles for its customer base and fleet.
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Auctions received vehicles from a more diverse stream of sources in the last quarter as data could be signaling some inflection points in the market.
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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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