Used Car Market Sees Mixed Signals: Prices Dip, Inventory Tightens

Dealers began December with an average of 46 days’ worth of used vehicle supply. A touch over 1.41 million used vehicles were sold in the US last month, 13% more than 2023. Lower-priced vehicles are vanishing fast, with supply shrinking nine days compared to last year. The used-car market is sending mixed signals, with prices ticking down slightly even as inventory continues to tighten.

In November, the average listing price for used vehicles in the United States dipped compared to the same month last year, settling at $25,565. However, this modest price decrease comes amid a 6% drop in available supply on dealer lots, which now sits at approximately 2.18 million units nationwide. Throughout the year, the average listing price of used vehicles has remained relatively stable, hovering near the $25,000 mark. Prices dipped to a low of $25,134 in February before peaking at $25,731 in May. In November, the average price settled at $25,565, reflecting a slight decline of 2.6% from the $26,239 recorded in November 2023. Meanwhile, Cox Automotive data shows that 1,417,573 used vehicles were sold in the States last month, a notable increase from the 1,259,277 units sold during the same month last year—a year-over-year rise of around 13%. Even compared to October, when 1,393,841 used vehicles were sold, sales climbed by 2%, reflecting an unexpectedly strong finish to the year for the used-car market. Dealer inventories continue to dwindle. At the start of December, the average supply of used cars stood at 46 days, down slightly from 47 days in November and significantly lower than last year’s 57.8 days. Senior analyst of economic and industry insights at Cox Automotive, Scott Vanner, notes that supplies are particularly restrained at lower price points. In fact, there is just a 34-day supply of used cars below the $15,000 mark

México Últimas Noticias, México Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

Crypto market sees slight losses as South Korean market plunges following emergency martial law declarationBitcoin (BTC) and the cryptocurrency market experienced minor declines on Tuesday, primarily due to political issues in South Korea, which introduced fear, uncertainty and doubt (FUD) among investors.
Fuente: FXStreetNews - 🏆 14. / 72 Leer más »

South Korea Stock Market: Opportunity Amidst Turmoil?Fund manager Arjun Jayaraman sees value in the South Korean stock market despite recent political turmoil.
Fuente: NBCNewYork - 🏆 270. / 63 Leer más »

Toncoin (TON) Surges 80% in Whale Activity Amid $405 Million Market Sell-offCrypto market sees sell-off ahead of Fed's rate decision
Fuente: Utoday_en - 🏆 295. / 63 Leer más »

Cryptocurrency Market Sees Explosive Rally in 2024, Layer 1 Blockchains Take Center StageLayer 1 blockchain solutions experienced significant growth in 2024 following Donald Trump's election victory, with Mantra (OM) leading the charge with a 7,035.2% increase, AIOZ Network (AIOZ) at 427.6%, and Sui (SUI) at 388.2%. Despite the resilience of Bitcoin, Ethereum, and Solana, the increased use of Layer 2 solutions has reduced their dominance.
Fuente: Crypto_Potato - 🏆 568. / 51 Leer más »