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Despite a flattening curve due to fewer off-lease vehicles coming into channels, commercial sales rank highest in volume increases since 2023.
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The decreases appear in a market where days' supply and listing prices are rising.
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Used vehicle sales increased during August to the highest level since October 2021, but U.S. auto dealers still see the current used-vehicle market as poor.
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Sales conversion continued to rise and held at much higher levels than prior years for the month as more buyers came to markets to replenish supply for used retail inventory.
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Monthly and year-to-date vehicles sales at auctions reflect strong commercial sales growth this year.
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The industry overall is seeing a strengthening trend in wholesale used vehicle market values.
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Retail used-vehicle prices have been consistently lower through the first seven months of 2024 compared to year-ago levels.
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2021 MY off-lease vehicles are flowing into the market but will ease for the rest of this year reflecting the slower sales and leasing pace of late 2021.
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New figures show a drop off in dealership sales and inventory reporting due to the weeks long disruption in the DMS, but it had less of an impact on the used-vehicle market than on the new-vehicle market.
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The CDK outage at dealerships has disrupted sales reporting amid a monthly decline.
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