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Compared to the start of the year, transaction prices for new vehicles are down 1.7%, or $865, the largest January to June tumble in the past decade.
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The Manheim Market Report values saw above-average declines that were relatively consistent, with values declining almost 4% in the last four weeks.
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With production levels returning to normal and retail demand only modestly improved, sales to fleet channels have increased dramatically.
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Vehicle shoppers now have a much better chance of finding something that fits their needs as improved supply relieves pent-up demand.
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Overall sales are up in the quarter, including for fleets. However, headwinds are growing and inventory levels are moving back above the pre-pandemic normal, suggesting a slowing of demand.
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The Cox Automotive industry analysis, AutoFocus, is based on study of data and opinion from across the automotive sector and features an in-depth analysis of Q1 and Q2
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With the battery comprising up to 40% of the cost of an electric vehicle, making sure the battery is healthy — and being able to measure and communicate that health — are important considerations for secondary EV buyers.
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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.
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To date, 20 vehicles from 13 manufacturers will be on display and available to drive at the 2022 Fleet Forward Conference.
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Hurricane damage, high interest rates, softening used values, and a slowing economy will all have some effect on the coming used vehicle market. The greater issue is even lower sales — as the historic decline in the lease return rate from 2022 meets up with a big drop in lease maturities and lower dealer consignments.
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