Average Used Vehicle List Price Tops Record $28,000
Available vehicle inventory inched higher, edging closer to normal. Key stats: 2.38 million unsold vehicles, 51 days' supply, 69,737 average mileage.
Available vehicle inventory inched higher, edging closer to normal. Key stats: 2.38 million unsold vehicles, 51 days' supply, 69,737 average mileage.
The Cox Automotive Insights team looks at key industry trends ahead that overall point to a healthy year.
Analysis: A big drop of 20% to 30%, as one report suggests, is highly unlikely. History tells us a decline of more than 10% is rare indeed.
The average price paid for a new non-luxury vehicle in December 2021 was $43,072, slightly down from the record high set in November but still $900+ over sticker.
Combined sales into large rental, commercial, and government buyers were down 32% year over year in December and down 4% full-year 2021 versus 2020.
Three experienced global fleet managers discuss the changing nature of their roles and the challenges of policy harmonization, standardization, and safety across world regions.
The combined auction companies will have 39 locations across 19 states, making it a new powerhouse in the remarketing industry.
With record-high prices, low incentives, and a higher interest rate, the estimated typical monthly payment increased to a new record high at $687, which was up 20.7% year over year.
Wholesale prices appear to have peaked the week before Thanksgiving as weekly prices have declined slightly in each of the last two weeks. But retail prices continue to increase.
The chair of the Association of Fleet Professionals (AFP), a UK-based organization representing the interests of fleet managers, believes fleets should skip plug-in hybrid models on fleet policies and focus on pure electric models.
Today’s international market conditions are not so different than they were 20 years ago and there are opportunities to be had (but no one said it was easy).
The average listing price of about $27,000 is running 25% above year-ago levels and 38% over pre-pandemic 2019 levels.
New-vehicle inventory levels are still 63% lower than a year ago while the average transaction price hit another record.
Meanwhile, used supply normalizes, rental risk pricing declines, and auto loan performance deteriorates.
All-new Purchases Page Brings greater speed, simplification and centralization to buying on ADESA.
CAR was highlighted by discussions addressing trends that will affect the future of the remarketing industry. The conference was held March 1 to 2 at the Paris hotel in Las Vegas and was held in partnership with the International Automotive Remarketers Alliance (IARA) and the National Auto Auction Association (NAAA). Photos by Steve Reed and Andy Lundin.
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