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Meanwhile, used supply normalizes, rental risk pricing declines, and auto loan performance deteriorates.
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With the help of industry experts, Automotive Fleet takes a look at the current state of the used-vehicle market and what the near future may hold.
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October figures show buyers are much more aggressive in purchasing than is typically the case in the fall. Combined sales into large rental, commercial, and government buyers were down 24% year-over-year in October.
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The sales conversion rate also increased last month and ended at a level higher than typical for August, indicating buyers have become more aggressive than they were in June and July.
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The third-party battery health diagnostic tool will strive to become the industry standard to assess the condition and value of EV batteries.
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The IARA Summer Roundtable conference balanced a look back at successes while confronting industry challenges ahead.
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KAR expects to be immediately profitable across its North American dealer-to-dealer platforms while enhancing its position in the highly fragmented wholesale used vehicle market.
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As of August 1, 2021, all truck classes from pickups to heavy-duty class 8 units experienced an decrease in wholesale values over the prior month. Medium-duty Class 6 units experienced the highest decrease month-over-month.
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The latest trends in key indicators suggest wholesale used vehicle values will continue to see depreciation in the days ahead.
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The Manheim Used Vehicle Value Index hit a record high of 203, and likely won't reach into the 200s again for several years.
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