Days’ supply climbed to 49, the highest since May 2021. The question now is: Will demand keep up with supply?
Higher interest rates are likely hurting used-vehicle demand because consumers can’t afford the higher monthly payments.
Wholesale prices had been moving downward for most of the year and decreased 4% in August from July, widening the divergence with retail prices.
As gas prices surged to record levels, inventory of imports, especially smaller, fuel-efficient models, including hybrids, was among the lowest in the industry at the end of May.
The average listing price as May closed dipped to $28,312, compared with a revised $28,372 at the end of April.
We asked attendees of GFX 2021 what projects they were currently working on.
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