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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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Since Farley took control of the automaker last October, Ford’s stock has roughly tripled.
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New light-vehicle sales in October 2021 saw their first month-to-month gain since April.
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For the second time in as many months, one of the major RV market segments has declined in value, but this time it was the towables, which fell for the first time in almost a year, while motorhomes reversed course and increased, coming in at their second highest value ever.
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Combined sales at the seven major automakers that release monthly results dropped 17% in October. Automakers cite the semiconductor chip shortage and supply chain bottlenecks as the reason.
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The fourth quarter is traditionally when the market experiences most of the yearly depreciation, but after just one month in the quarter, values are reporting appreciation of more than 3.0%.
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High demand amid limited new vehicle inventory has driven up used vehicle prices. But it’s also impacting the rate their values are depreciating.
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Presented by F&I and Showroom magazine and sponsored by Spectrum Automotive Holdings, the annual awards program recognizes dealerships with highly profitable F&I departments.
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Jimmy Atkinson, CEO of AUL Corp., predicts quick changes are required to position dealers and manufacturers for the future as the automotive industry reinvents itself post-pandemic.
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Technology provides sellers with actionable repair suggestions and buyers with improved quality vehicles.
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The lack of new inventory is continuing to drive up the demand for used vehicles, which in turn is forcing buyers to pay more week after week and leaving sellers wishing they had more to offer.
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