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Used Market Stabilizes
The Carfax Used Car Index noted a major drop in used-vehicle price increases in July after several months of hikes.
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SEARCHMENUSEARCHThe Carfax Used Car Index noted a major drop in used-vehicle price increases in July after several months of hikes.
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Incentives drive streak as dealer profits keep falling from pandemic-era highs.
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Cox forecast foresees tepid growth and a CPO decline.
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The subcompact and midsize car segments saw large declines last week.
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Settle in a normal January decline after particularly hot December sales.
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Most buyers still close their auto purchases at the store, though online shopping is rising.
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The estimated used retail days-to-turn is now at about 44.
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Depreciation proved normal for the early part of the year last week.
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Wholesale market is stabilizing, based on last week's activity.
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Forecast predicts consumer spending will hit a record for January.
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Auction inventory increased last week, conversion rates were high, and depreciation slowed.
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