LotLinx Weekly News Vol. 228: Back to Getting Schooled by Used Inventory?

FROM AUTO REMARKETING: Wholesale Prices Down by 3.6% So Far in August

Wholesale vehicle prices have seen significant and consistent drops throughout the first 15 days of the month. Despite these drops, prices for all segments still remain higher than in August 2021.

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FROM BLOOMBERG: State of the Used Car Market

After many months of lightning-in-a-bottle consumer demand, used vehicles are back to depreciating at above average levels, and some dealers are seeing higher days’ supply than in 2019.

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FROM REUTERS: U.S. New Vehicle Prices to Hit Record High Despite Rising Interest Rates

The country’s efforts to curb inflation have yet to impact new vehicle prices, jumping 11.5% year over year. However, the number of new vehicle transactions remains 2.6% lower than last August, less than 1 million units.

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FROM WARDS AUTO: New-Car Markups: From Buyer Remorse to Resentment

Have consumers finally had enough of paying at or above MSRP for new vehicles? It may not be so obvious on the showroom floor, but a new survey suggests exorbitant markups could have a lasting impact on consumer opinion.

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