• Car & Automotive

    More Used Cars for Sale, but Prices Still Rising

    After a year of shrinking inventory, America’s used car dealers ended September with more cars for sale than they had at the end of August. But prices continued to rise. According to Cox Automotive, there were approximately 2.3 million used cars for sale at the end of September. That compares to 2.27 million at the end of August. Cox Automotive is the parent company of Kelley Blue Book. Average Price Approaching $27,000 Despite inventory starting to recover, prices continued their rise. The average used vehicle list price at the end of September was $26,646. That’s 25% higher than just one  

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  • 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  

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  • 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. 

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