Used car prices are not coming down?

[LotPop]

Don't think used car prices are not coming down?

What are you seeing?

Here are just a few examples and there are thousands more..

 

[Jeff Kershner]

Retail prices may be coming down but I'm hearing auction prices are a bit different and are going for above MMR at many of the larger auctions. Or has it plateaued?

The Spring and Tax return market is right around the corner.

 

[Ebenn]

Don't think used car prices are not coming down?

What are you seeing?

Here are just a few examples and there are thousands more..

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at 75 days and 144 days there is more than a price problem!!!!!

 

[Matthew Davis]

Yup. We see similar trends at TradePending. We have our own index called the TradePending 100 that tracks the 100 most listed vehicles on franchise dealer websites.

Kinda tough to make out in this chart, but those 100 vehicles have lost ~18% in retail ask price since Jan 2022. Interesting little kicker there at the end...

 

[joe.pistell]

IMO, Shopper demand (presale) is an important leading indicator to changes in prices. And, if this is true, then it's logical that

1. Shopper demand is invisible to dealers, and...
2. Dealer demand drives wholesale demand (ergo auction prices rise or fall)

SimpleWeb (below) tracks shopper demand (presale).

snapshot from free trial taken just after christmas.

 

[flosho]

As someone that prices our used vehicles and tracks the market on this stuff - we've had to significantly reduce majority of our inventory to bring it back in line with market.

Shopper activity might be up, but with high used car prices and the economy in the dumper, everyone is a bit more judicial with their hard earned money.