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Compared to last month, wholesale used vehicle prices are down 1.3%, but year over year, prices are up 10.7%.
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Year to date, the total used-vehicle market is on pace to finish down more than 10% from 2021’s 40.6 million total.
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But they remain off last year's pace because limited new-vehicle inventory has slowed the gently used segment due to fewer trade-ins.
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Seasonally adjusted rates point to an inventory mix with more newer vehicles, which means fewer affordable options.
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Cox Automotive is forecasting a strong year for CPO at three million units, an increase year over year and above the record set in 2019.
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Hear the fleet outlook starting 2022, including the continued impact of COVID on the auto industry, high inflation rates, and the used-vehicle market in this episode of State of the Fleet Industry.
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With the help of industry experts, Automotive Fleet takes a look at the current state of the used-vehicle market and what the near future may hold.
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Phil Nothard of Cox Automotive International joins Global Fleet Management Voices to discuss how the raw materials shortage is impacting the UK fleet market, positive impacts of decreasing new car sales, and the issue of remarketing vehicles now.
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The collaboration promotes safe deployment of second-life use for Xos battery packs nearing end-of-life.
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The mid-month Manheim Used Vehicle Value Index is still up 18% year over year.
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