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Chip Cooper of Cooper Motors shares his take on where vehicle supply and availability are headed this year and offers a creative way to spec to get the job done.
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Taking place on Oct. 17, DeliveryCon will host a seminar that will help delivery fleets navigate OEM’s future product plans, lingering supply chain issues, and the evolution of vehicle ordering.
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While the total supply of unsold used vehicles is down from the same time a year ago, they are up from the end of June.
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The average listing price of a vehicle remained above $47,000 since April, while the ATP of a new vehicle in July was $48,334 compared with $48,671 in June.
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Dealers of Work Truck Solutions are now able to add commercial inventory listings and details to the Holman Fleet Marketplace.
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Higher interest rates are likely hurting used-vehicle demand because consumers can’t afford the higher monthly payments.
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Wholesale prices had been moving downward for most of the year and decreased 4% in August from July, widening the divergence with retail prices.
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The average listing price of about $27,000 is running 25% above year-ago levels and 38% over pre-pandemic 2019 levels.
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New-vehicle inventory levels are still 63% lower than a year ago while the average transaction price hit another record.
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Meanwhile, used supply normalizes, rental risk pricing declines, and auto loan performance deteriorates.
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