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.
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.
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.
Higher interest rates are likely hurting used-vehicle demand because consumers can’t afford the higher monthly payments.
Wholesale prices had been moving downward for most of the year and decreased 4% in August from July, widening the divergence with retail prices.
The average listing price of about $27,000 is running 25% above year-ago levels and 38% over pre-pandemic 2019 levels.
New-vehicle inventory levels are still 63% lower than a year ago while the average transaction price hit another record.
Meanwhile, used supply normalizes, rental risk pricing declines, and auto loan performance deteriorates.
The lack of new-vehicle inventory is steering many dealers and consumers into the used-vehicle market, resulting in higher prices for both wholesale and retail used vehicles.
Tight vehicle inventory continues to vex the auto industry while high prices deter buyers.
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