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.
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.
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.
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.
Enjoyed this roundup? Subscribe to LotLinx News for weekly automotive industry-updates direct to your inbox.
Want more top headlines? Catch up on past editions of LotLinx News.