Average Used Vehicle List Price Tops Record $28,000
Available vehicle inventory inched higher, edging closer to normal. Key stats: 2.38 million unsold vehicles, 51 days' supply, 69,737 average mileage.
Available vehicle inventory inched higher, edging closer to normal. Key stats: 2.38 million unsold vehicles, 51 days' supply, 69,737 average mileage.
The Cox Automotive Insights team looks at key industry trends ahead that overall point to a healthy year.
The average price paid for a new non-luxury vehicle in December 2021 was $43,072, slightly down from the record high set in November but still $900+ over sticker.
Combined sales into large rental, commercial, and government buyers were down 32% year over year in December and down 4% full-year 2021 versus 2020.
The combined auction companies will have 39 locations across 19 states, making it a new powerhouse in the remarketing industry.
With record-high prices, low incentives, and a higher interest rate, the estimated typical monthly payment increased to a new record high at $687, which was up 20.7% year over year.
Wholesale prices appear to have peaked the week before Thanksgiving as weekly prices have declined slightly in each of the last two weeks. But retail prices continue to increase.
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.
All-new Purchases Page Brings greater speed, simplification and centralization to buying on ADESA.
CarNow allows dealers to view and serve shoppers in “real-time” as they engage with a dealer’s virtual or physical showroom.
October figures show buyers are much more aggressive in purchasing than is typically the case in the fall. Combined sales into large rental, commercial, and government buyers were down 24% year-over-year in October.
But volume for rental, commercial, and government vehicle purchases is still well below levels seen in the pre-pandemic year of 2019.
The poll is live for the 2021 Fleet Vehicles of the Year — vote for your favorite car, truck, and/or SUV, share the link, and help contribute to the next Fleet Vehicle of the Year.
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