The last two weeks of 2021 saw intense consumer demand for light commercial vehicles in the UK, driving average stock values to their second highest levels of the year.
August figures show sales into rental increased 118% year over year in August and are up 7% compared to the same time period last year.
The third-party battery health diagnostic tool will strive to become the industry standard to assess the condition and value of EV batteries.
High prices and relatively tight inventory keep more buyers at bay.
The average listing price reached $25,500 as July closed, after surpassing the $25,000 mark for the first time ever in June.
Near-record low new-vehicle inventory and record-high prices will keep certified pre-owned units as very attractive alternatives.
As August opened, inventories were running 53% below 2020 levels and 68% below 2019 levels.
Large rental, commercial, and government purchases of new vehicles increased 6% compared to this time in 2020, but decreased by 40% from the same time in 2019.
Chip shortages and surging demand are squeezing used vehicle sales while inflating prices.
Cox Automotive Commentary: The third quarter will be the industry’s toughest in 2021, and our analysts are forecasting second-half sales to finish below first half.
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