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Conditions have shifted to favoring buyers; but with tight supply, the market is close to a balance between buyers and sellers.
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Analysis: Consumers are repairing vehicles and holding them longer to avoid historically high used-car prices. The real question is: How long will used inventory remain tight and prices above normal?
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CAR 2023: What happens when you put four remarketing economists and analysts in one room? Lots of data, predictions, trends, and uncertainty.
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Prices usually decline in the first two weeks of April, but in each of the last two years prices increased substantially during these same weeks, the Manheim Index shows.
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After closing out 2022 with the longest-running, sharpest decline over a single year, wholesale used vehicle prices have risen in 2023.
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In a confidence builder for EVs, fewer than 2% of batteries have been replaced outside of publicized recalls during the last 10 years.
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The month also ended at near 41 days’ vehicle supply, down from 48 days at the end of January and 13 days lower than February 2022 at 54 days' supply.
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CAR 2023: Consignors and auctions can expect better resales on used electric vehicles if they know how to make the most of incentives, credits, and rebates.
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CAR 2023: Electric vehicles should come with a slow down/caution sign, based on the insights and results from electric fleets in Europe.
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All eight major market segments again saw seasonally adjusted prices that were lower year over year last month, with compact cars showing the smallest decline.
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