With sales slightly stronger than expected, tight supply, and prices at about 6% below last year, these factors are expected to prevent any substantial decline in wholesale prices through year-end.
The conversion rate indicates that the first 15 days of August saw buyers with more bargaining power for this time of year.
All major market vehicle segments saw price declines year over year and all were down compared to the previous months, except for one.
Wholesale supply has increased with weaker purchase activity in early July, yet it is otherwise normal for this time of year.
Conditions have shifted to favoring buyers, but with tight supply, the market is not far from being balanced between buyers and sellers.
A widespread auction data report points to the key question of: will the overall upside market last?
CAR 2023: What happens when you put four remarketing economists and analysts in one room? Lots of data, predictions, trends, and uncertainty.
All eight major vehicle market segments saw seasonally adjusted prices that were lower year over year in January.
A recent auction industry quarterly report shows a mix of up and down indicators that add up to more market balance.
The vehicle scans will check vehicle exteriors, undercarriage components and tires to quickly produce online user-friendly reports that include high-resolution photos.
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