Rising interest rates are taking some potential buyers out of the market.
Used-Vehicle Market Stabilizes Supply, Prices
Higher interest rates are likely hurting used-vehicle demand because consumers can’t afford the higher monthly payments.
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.
Analysis: The Fed wants to see less credit flowing as part of their plan to induce pain, and it's working. Are they taking enough time to see the effects of their moves before doubling down?
NAAA Remarketing Outlook: High vehicle prices, low inventory, solid resale values, and an enigmatic economy are taking the normality out of used and new vehicle sales.
Peter Grupposo succeeds Holly Capps overseeing the commercial sales, dealer sales and market insights teams for Manheim and NextGear Capital.
Wholesale prices had been moving downward for most of the year and decreased 4% in August from July, widening the divergence with retail prices.
Year to date, the total used market is on pace to finish the year down more than 12% recorded in 2021.
IARA Summer Roundtable: In a free-wheeling interview, entrepreneur and used car industry disruptor Ernie Garcia delivers insights on his mega-merger deal and a customer-friendly e-commerce model.
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