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For the past three years, everyone has been a remarketing genius. The low inventory of used vehicles in the wholesale market helped inflate resale values by about 10 percent. However, as greater volumes of used vehicles begin to enter the wholesale market, vehicle supply will start to meet buyer demand, which will put downward pressure on resale values. In many ways, the new used-vehicle market will demand returning to the basics, namely recognizing the seasonality of the used-vehicle market.
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The used-vehicle market has always been driven by supply and demand. In the 2013 calendar-year, vehicle supply in the wholesale market continued to be tight relative to demand, helping bolster resale values.
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After increasing the last four months, wholesale used vehicle prices declined in October. The Manheim Index now stands at 122.3, an increase of only 0.3% from its year-ago level.
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The supply of used vehicles entering the market in 2013 is increasing, creating a “pretty solid” environment for resale. The remarketers of tomorrow may face some challenges.
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SUVs, including the Compact, Full-size, Luxury, and Mid-size categories, made up four of the top seven best-performing vehicle segments for the month, according to a new report from Black Book.
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Five used-car segments have resumed price declines after a strong Spring buying season, which is typically strong when shoppers purchase used vehicles with tax rebate money.
Read More →Spurred by seasonal buying habits from shoppers leveraging anticipated tax returns, the used-car markets saw some price increases during February.
Read More →GAINESVILLE, GA – Black Book reported an overall improvement in used cars over the past week, with the average segment change being -$61, the lowest decline in the past 10 weeks.
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As the market adapts to an era of restricted supply, car rental companies hone the process of buying and selling cars to keep fleet costs in line.
Read More →ATLANTA – Manheim Consulting released its Used Car Market Report (UCMR) for 2011. The report cites new vehicle purchases by commercial and government fleets as well as remarketing trends for both.
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