Days’ supply by end of November was 77% higher than at the same time a year ago and the highest since March 2021. While inventory is up from recent levels, it remains low by historical standards.
Three of Cox's companies are partnering up to help navigate the challenges of finding more vehicles in a constricted market.
Days’ supply in October was 26% above year-ago levels. Used-vehicle inventory has been holding at about this level since mid-January.
Days’ supply climbed to 49, the highest since May 2021. The question now is: Will demand keep up with supply?
Learn about the correlation between low diesel inventory and retail price and the impact a recession would have on stockpiles and prices in this week's state of the industry with AF's Mike Antich.
Higher interest rates are likely hurting used-vehicle demand because consumers can’t afford the higher monthly payments.
Wholesale prices had been moving downward for most of the year and decreased 4% in August from July, widening the divergence with retail prices.
Although economic conditions are worsening, the lack of supply is still the greatest headwind facing the auto industry.
As gas prices surged to record levels, inventory of imports, especially smaller, fuel-efficient models, including hybrids, was among the lowest in the industry at the end of May.
The average listing price as May closed dipped to $28,312, compared with a revised $28,372 at the end of April.
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