• Car & Automotive

    High used-car prices likely to stay for a while

    Used retail days’ supply was estimated at 37 days in September. Normal days’ supply, which Cox estimates using data from its vAuto inventory-tracking software, is 44 days. Wholesale supply ended September at 18 days. A normal wholesale supply is 23 days. Used-vehicle inventory levels have been faring far better than new and in fact have been inching toward normal levels as of late, Smoke said. “New inventory as of mid-September was down 75 percent compared to 2019, with days’ supply down a little less, as the declining sales pace has kept days’ supply at its bottom for the last several  

    Comments Off on High used-car prices likely to stay for a while
  • Car & Automotive

    Wholesale Used Car Prices Rise, Pointing to Higher Inflation

    One of the most closely watched leading indicators of inflation on Wall Street has hit a record high, a sign that upward pressure on prices could last for months to come. The prices that dealers pay for used cars in the wholesale market jumped 5.3 percent from August to September, according to the Manheim Used Vehicle Value Index. It’s up 27.1 percent from last year. Used car prices have soared since the pandemic hit, when production snarls at automakers cut the supply of new vehicles as many Americans left urban centers for the suburbs, pushing up demand for personal vehicles. 

    Comments Off on Wholesale Used Car Prices Rise, Pointing to Higher Inflation