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iSeeCars is seeing something it hasnt seen in more than two years: rising used-car prices. The automotive search engine and research website said its latest study showed the average used-vehicle listing price in March was up 1% from March 2024, the first year-over-year increase since October 2022.
As the first quarter of 2025 ended, all was calm for used-vehicle retail prices. But, Cars Commerce reported in its Q1 2025 Auto Market Review , that might have been the calm before the storm. The report, based on data from the companys Cars.com, Dealer Inspire and AccuTrade platforms, showed used-car list prices fell 0.9%
If reliability and value are your customers top priorities for a usedcar, you might want to make sure the Honda Fit is on your lot. The subcompact hatchback, which was discontinued by Honda in 2020, is the most reliable 5- and 10-year-old vehicle for the money, according to the latest research from iSeeCars.
TO READ THE FULL STORY BECOME A MEMBER Login The post Largest month-over-month drop in Manheim used-car price index since April 2020 appeared first on Auto Remarketing. The index came in 215.1 for the month. The last time wholesale prices fell that much.
The retail used-car market, including the certified pre-owned segment, showed some real strength last month, improving from both year-ago and January figures. Citing data from its vAuto business unit, Cox Automotive estimated that used-vehicle retail sales in February climbed 18% month-over-month and 5% year-over-year.
The slowdown in supply of later-model used vehicles is already having an impact in the retail car market, according to industry analyses released this month. Cars Commerce said in its latest Industry Insights Report that used-car inventory was up 1% year-over-year in July, due mostly to inventory of sub-$30,000 vehicles climbing 9%.
The usedcar market has been an up-and-down mess since at least 2020, with reduced new car inventory pushing more buyers into pre-owned purchases , which reduced the revolving supply of trade-ins. This perfect storm of pandemic-induced chip-shortage usedcar inflation appears to finally be subsiding.
Among those top findings, CarGurus indicated used inventory has reached multi-year highs, but value has been redefined. For shoppers in the market for a usedcar costing less than $20,000, analysts acknowledged options are increasingly older and higher mileage.
Suppose we ignore our numerous stories about the old-timer Chevrolet Impalas that can be found on the usedcar market at any given moment. The reason is obvious, as the GM-owned car brand pulled the plug on it in 2020, after ten genera. continue reading. )
Dealerships in 2024 will continue to face usedcar sourcing challenges. I recently read an article that netted the issue: “Dealers navigating a used-vehicle market that already allows little room for error are eyeing another obstacle: worsening used-car availability.”
Analysis: The actions of the UAW will reverberate through the larger auto business, but nowhere near what was experienced in April 2020. Rental car companies may return to the usedcar market like they did in 2021 and 2022, driving prices higher. Sales into fleet could suffer in 4Q if a strike is wide and persists.
While car prices were high in 2023, car buyers — especially used-car buyers — were increasingly happier with their experience, according to the latest research from Cox Automotive. New-car buyers matched the all-time high 79% set in 2020, while 73% of used-car shoppers reported being highly satisfied, up from 70% in 2022.
Cox Automotive estimated February used-car sales made the largest jump seen in recent years. And the used-vehicle sales index segment of the Cox Automotives Q1 2025 Dealer Sentiment Index (CADSI) improved for the fifth straight quarter. Expenses (29%) and consumer confidence (26%) rounded out the top five factors.
While the groundhog hasn’t delivered his forecast yet, it seems spring might be on the way in the wholesale car market. Used-vehicle prices were down again as January ended, but the pace of depreciation is decelerating, according to the latest report from Black Book. In turn, that is helping to drive down the cost of usedcars.”
Rethinking Profitability in a Changing Market Most dealers operate in a reactive cycle buying cars to replace those sold without a clear strategy beyond basic profitability. Why Reconditioning Matters More Than Ever The usedcar market has undergone significant shifts. Gross profit: $2,000.
This is just one point above the all-time low of 33 in Q1 2024 (excluding Q2 2020 during the pandemic) and has been weak for over two years. For franchised dealers, the profit index declined from 45 in Q4 to 41 in Q1, matching the low score set one year ago (excluding Q2 2020).
UsedCar Week is returning to Scottsdale, Ariz., UsedCar Week combines six different tracks in an effort to unite all corners of the used-car industry from the auction lanes to the dealer lot to the investment world and beyond. But no one knew yet just how big. You just cannot replace that human connection.
First, we need to look at our “short-term gain” decisions we made back in 2020. New cars were at a premium that year, and many dealers decided to “make hay while the sun shines” so, according to NADA, as a result, the new per-vehicle gross profit by 22% nationally. Meanwhile, used-car values are trending down.
The wholesale used-vehicle market ended the third quarter with some stability, but the duration of that steadiness likely hinges on how the United Auto Workers strike unfolds. As one analyst put it, the used-car market has reached a “crossroads.” Black Book’s Used Vehicle Retention Index for September came in at 159.3,
The car-buying public has a message for the used-car industry, and it’s this: We don’t want to pay too much for a vehicle. That message was clearly conveyed in CarGurus’ latest Quarterly Review, which found sales of lower-priced usedcars rising and high-end vehicle sales falling. “As
My view is inventory levels, at least for a not too extended strike, are probably adequate to keep things going on the new-car front. On the used-car front, it’s a positive because for the very same reasons that I said the chip shortage was a positive used-car values, but maybe led to exorbitantly high values for a period of time. “To
In sales, supply and demand added up to charging premiums above and beyond the suggested retail price on new models, and a 20% to 30% increase in usedcar pricing. The national labor rate, according to NADA Year End 2020, was $120 an hour; by year-end 2023, it was $173. In service, it meant bumping up the labor rate.
Starting with Black Book, its Used Vehicle Retention Index came in at 145.0 higher than the final pre-pandemic reading March 2020, however. “In for July, which was down 1.1% month-over-month and off 15.2% from July 2023.
Even as electric cars gained traction, the plug-in hybrid segment remained under-sung. The overall average drop for 2020 EV models hit 29% in November 2023, unprecedented depreciation in a remarkably short period. The second takeaway is used EVs don’t maintain their value nearly as well.
At 33, the profitability index fell to its second-lowest score ever, behind only Q2 2020, at the height of the COVID-19 pandemic. Beginning in the second half of 2022, the index has dropped significantly and, in Q1 2024, hit 41 – the lowest point in the survey’s history excluding Q2 2020. “The vehicle market in the U.S.
And car shoppers, who had been hesitant to buy while waiting for rate cuts and election results, are now ready to pull the trigger. But when it comes to used-car inventory, though, the outlook is bearish. But when it comes to used-car inventory, though, the outlook is bearish. Smoke projects 2.5
As it turns out, when you offer a mid-engine sports car with a near-500-hp V8 for far less than any of the alternatives to start with, used versions hold their value way too well. Thats also a direct attack on those of us who depend on massive depreciation to make otherwise-unaffordable performance cars attainable for us.
Perhaps of most interest to used-car managers, Edmunds said that its data through June showed 51% of all Teslas traded in to a dealership went toward a purchase or lease of a new ICE vehicle. That’s the lowest reading in Edmunds’ data set that went back to 2019. It does not include direct-to-consumer sales.
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