Although prices are falling, they likely won't decline too much given the tighter inventory compared to 2021.
Used vehicle prices are declining in this divergent market. Fleet sales making a comeback compared to last year.
The new digital integration expands and simplifies access to used vehicles for buyers and sellers.
The financial risks and setbacks are piling up for the online used car retailer that gobbled up ADESA auctions last year in a deal wracked with massive debt.
After volatile highs and lows during the last three years, the market should hit equilibrium in the second half of 2023.
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.
Rising interest rates are taking some potential buyers out of the market.
Higher interest rates are likely hurting used-vehicle demand because consumers can’t afford the higher monthly payments.
Only three of eight major market segments saw seasonally adjusted prices that were higher year over year in September. The full-year Manheim Used Vehicle Value Index forecast is expected to finish the year down nearly 14% YOY, up from the second quarter’s revised forecast of a 6% decline.
See how Cox Automotive scored when its earlier outlook met the economic and market realities so far this year.
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