The lack of new inventory is continuing to drive up the demand for used vehicles, which in turn is forcing buyers to pay more week after week and leaving sellers wishing they had more to offer.
Traditionally, values would be declining this time of year, but the lack of inventory continues to be the most common sentiment for the increased auction activity pushing values up.
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Wholesale prices continued to gain momentum, with all segments reporting week-over-week increases last week.
The biggest takeaway from this month’s value changes is that all the warm weather segments are down, most by substantial amounts. The only vehicles to see any upwards pricing pressure are the snowmobiles, which should be headed in that direction for the next several months, reports Black Book
The seasonally adjusted Retention Index increased to 169.5 points, hitting another record this year.
As we move into the Fall season, wholesale prices began to show a positive movement once again and reached the highest point of the year last week.
The market continued to make gains this past week, marking the fourth consecutive week of overall wholesale value increases.
Traditionally, as we move past Labor Day, values begin to decline, with the largest portion of the yearly depreciation typically occurring in the fourth quarter. However, that is not the case this year, we’ve now had four consecutive weeks of overall market increases in wholesale values.
Days-to-turn for used retail listings have been increasing, as retail demand softened over the last few weeks.
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