Over the last two weeks, Manheim Market Report (MMR) prices declined an aggregate of 1.9%, which was more than the normal decline of 1% for the time of year.
Wholesale used-vehicle prices decreased 2.3% in October from September and were down 4% from a year ago.
Applying deep data science to vehicle inventory management can spur more accurate pricing models in real-time.
The fourth quarter should bring stable pricing among buyers and sellers, which should reflect only modest changes between now and the end of the year.
All major market vehicle segments saw price declines year over year and all were down compared to the previous months, except for one.
The unified platform creates one of Canada’s largest digital wholesale marketplaces for used vehicles, providing buyers and sellers with easier transactions.
Finding the right product at the right price is more challenging for used vehicle buyers today, amid higher interest rates and recession fears.
Conditions have shifted to favoring buyers; but with tight supply, the market is close to a balance between buyers and sellers.
CAR 2023: A closing keynote presentation draws on data and information from J.D. Power on EV adoption hurdles in the years ahead.
Buyers in the used, new, and remarketed vehicle segments should expect continued growth in used electric vehicle sales as availability increases and retail prices decrease.
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