Prices still falling – on average – but rate of decline slowing. JUNE 2023 AVERAGE USED-VEHICLE LISTING PRICE Reuters pointed out that geopolitical uncertainty and. Similarly, according to the Manheim Used Vehicle Value Index, wholesale prices continued to decline. 6 photos Photo: Honda According to the carmaker, Honda will reduce production in two domestic factories by 10 through the end of March. The average listing price closed the month at $27,147, down from the revised $27,720 at the end of May, which was the highest since early January. In December 2021, only 20 of new-car shoppers leased a vehicle, compared to December 2019. The average used vehicle listing price ended June lower than when the month opened. The percentage of consumers that are leasing their vehicles has dropped due to the inventory shortage. Dealers are balancing their inventory to the sales rate, keeping days’ supply steady, even as total supply continues to improve.” “So it is worth noting that days’ supply is fairly normal for this time of year, which is something we haven’t seen for three years. “The last several months have followed very closely to 2019’s levels, the last normal year we’ve seen,” said Chris Frey, senior manager of Economic and Industry Insights at Cox Automotive. Inventory Shortage: Many dealerships are still catching up with the inventory shortage of the past few years, but even if the car of your dreams isnt on. It features 17-inch wheels, ABS disc brakes, and a ruggedness. The Cox Automotive days’ supply is based on the daily sales rate for the most recent 30-day period, ending June 26, when sales were 1.43 million units, up 1% from a year ago. The new 125cc version, better in every way than its forebearer, is due in showrooms right about now, and is already in high demand. Days’ supply has been holding at this level since spring. The days’ supply was down 11% from year-ago levels. Total days’ supply at the end of June stood at 47, compared with 46 at the start of the month. I think we’re going to be in a situation, speaking for Toyota. I do not believe we’re going to see growing dealer stock for one more year. We’re going to be dealing with this for one more year, said Hollis. That was up from a revised 2.12 million at the end of May but down 10%, or 241,000 units, from the same time a year ago. Automotive News reports that Toyota USA sales chief Jack Hollis expects the new car supply shortage to last well into 2023. stood at 2.22 million units at the close of June. The total supply of unsold used vehicles on dealer lots – franchised and independent – across the U.S.
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