Wholesale Used Car Prices Hit Plateau in August
Wholesale used-vehicle prices soared back this summer after dropping in April following the start of the pandemic.
However, signs of this price increase slowing down are starting to appear.
Pre-COVID levels (Benchmark)
- Retail used-vehicle prices up 7%
- Wholesale auction prices up 15%
April 1st through August 1st (Partial Recovery)
- Retail used-vehicle prices up 8%
- Wholesale auction prices up 35%
Prices August 1st through Sept 1st (Plateau)
- Retail used-vehicle prices up 0.4%
- Wholesale auction prices down 0.7%
August 2020 Vehicle Day-Supply:
August retail day-supply was at 38 days, <6> below the 44-day norm.
August wholesale day-supply was “normal” at 24 days.
