Mid-Month Update: The Manheim Used Vehicle Value Index was down 7% compared to the full month of May 2022.
Post-pandemic pent-up demand is moving into the automotive market. Strong sales growth into fleets strengthened April numbers.
For the second month in a row, average transaction prices undercut manufacturer's suggested retail prices, reversing a prior 20-month trend.
Analysis: Consumers are repairing vehicles and holding them longer to avoid historically high used-car prices. The real question is: How long will used inventory remain tight and prices above normal?
Dealer lots are no longer empty, with far more selection for vehicle shoppers who may have been waiting to buy a particular model.
Two years of scant automotive replacement parts supplies have heightened fleet downtime and increased fleet maintenance expenses.
Originally designed to create order and fairness to the fleet ordering process, OEM controlled allocation systems, instead have produced unintended consequences and frustrating challenges to fleets.
While this is the EV decade, the market is a long way from becoming one centered on electric vehicles.
Despite elevated vehicle prices, soaring interest rates and high inflation, there are no signs that demand is falling off yet.
September marks a record 16th straight month that new-vehicle ATPs were higher than the average manufacturer’s suggested retail price (MSRP).
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