The Expert Podcast

So what is really going on with used car prices Some mixed messages For the first few months In 2022 wholesale vehicle prices kind of dropped a little bit not much but a little bit for three months straight Well here in June The prices went up after three months of six sequential declines wholesale prices edged higher in may
And this is right in the middle of having higher gas prices Inflation Higher interest rates on home and home price is still being up So what gives what's going on with the used car market Well It could be that During the first few months of the year there was a little bit more new car inventory that kind of came out into the marketplace And you know February March April And so used cars kind of slowed down a little bit Maybe some dealerships got stacked up with vehicles and their used car department when that will once we get into may and even June New cars Inventory is even worse than it was We've seen some data where some of the manufacturers have a five or 10 day supply of vehicles Big manufacturers Mazda Toyota Honda Subaru Have a single digit or 10 or 15 day supply of vehicles You can't run a dealership with just that many cars So maybe now dealerships are going back to the well To find some Used cars to fund and supply their inventory Let us know what you think Are you a dealer Why are you seeing used car prices Go up Our retail price is going up or your margins getting thinner for your used car inventory