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Is there anywhere that tracks this alongside new and used car prices? Are those softening?

jeffbee 3y ago
Not a lot https://fred.stlouisfed.org/series/CUSR0000SETA02 https://fred.stlouisfed.org/series/CUSR0000SETA02
mikeyouse 3y ago
Anecdotally, yeah they are.. a lot more incentives lately and though it's a combination of supply + demand, the "days inventory" on dealer lots is back up to what many consider to be a normal level: > The total U.S. supply of available unsold new vehicles climbed to 2.21 million units, the highest level since early spring 2021. That is up 60% from the same time a year ago. However, inventory remains 35% lower than pre-pandemic 2019. Inventory numbers include vehicles available on dealer lots and some in transit. > Days of supply stood at 60 at the start of October, the same as the start of September. Inventory, measured as days’ supply, was 14 days higher than the same time a year ago. Supply has been inching toward that 60-day level, which the industry once considered normal and ideal, throughout the year. It was last in the 60s in March 2021. Prices have come back a bit too.. > In July, the average transaction price (ATP) – the price paid – rose a scant 0.4% from a year ago, the smallest year-over-year price increase in the last decade. According to Kelley Blue Book, the ATP of a new vehicle in July was $48,334, compared with $48,671 in June. Since the start of the year, transaction prices are down 2.7%, or $1,335, the largest January to July fall in the past decade.* https://www.coxautoinc.com/wp-content/uploads/2023/10/September-2023-ATP.jpg https://www.coxautoinc.com/wp-content/uploads/2023/10/Septem...
xnx 3y ago
They've softened a little but have further to go: https://site.manheim.com/en/services/consulting/used-vehicle-value-index.html https://site.manheim.com/en/services/consulting/used-vehicle... Now that the market seems to believe that the rates will continue to stay high, I think we'll see the decreasing price trend continue.
floxy 3y ago
You can see used car price trends at: https://www.cargurus.com/Cars/price-trends/ https://www.cargurus.com/Cars/price-trends/

Not a lot https://fred.stlouisfed.org/series/CUSR0000SETA02 https://fred.stlouisfed.org/series/CUSR0000SETA02

Anecdotally, yeah they are.. a lot more incentives lately and though it's a combination of supply + demand, the "days inventory" on dealer lots is back up to what many consider to be a normal level: > The total U.S. supply of available unsold new vehicles climbed to 2.21 million units, the highest level since early spring 2021. That is up 60% from the same time a year ago. However, inventory remains 35% lower than pre-pandemic 2019. Inventory numbers include vehicles available on dealer lots and some in transit. > Days of supply stood at 60 at the start of October, the same as the start of September. Inventory, measured as days’ supply, was 14 days higher than the same time a year ago. Supply has been inching toward that 60-day level, which the industry once considered normal and ideal, throughout the year. It was last in the 60s in March 2021. Prices have come back a bit too.. > In July, the average transaction price (ATP) – the price paid – rose a scant 0.4% from a year ago, the smallest year-over-year price increase in the last decade. According to Kelley Blue Book, the ATP of a new vehicle in July was $48,334, compared with $48,671 in June. Since the start of the year, transaction prices are down 2.7%, or $1,335, the largest January to July fall in the past decade.* https://www.coxautoinc.com/wp-content/uploads/2023/10/September-2023-ATP.jpg https://www.coxautoinc.com/wp-content/uploads/2023/10/Septem...

xnx 3y ago

They've softened a little but have further to go: https://site.manheim.com/en/services/consulting/used-vehicle-value-index.html https://site.manheim.com/en/services/consulting/used-vehicle... Now that the market seems to believe that the rates will continue to stay high, I think we'll see the decreasing price trend continue.

floxy 3y ago

You can see used car price trends at: https://www.cargurus.com/Cars/price-trends/ https://www.cargurus.com/Cars/price-trends/