August 4, 2021
State of the Used-Vehicle Market and 2022 Forecast
The Spotlight on the State of the Fleet Industry video produced by Automotive Fleet interviews Alex Yurchenko, senior VP, data sciences for Black on the state of the wholesale used-vehicle market.
Today's topics include:
- Resale prices peaked at end of June 2021 and have started to soften due to a softening in consumer demand caused by the higher used-vehicle prices.
- Despite softening of resale values, prices continue to be strong due to the limited inventory of used vehicles in the wholesale market.
- Trucks and SUVs continue to produce exceptionally strong resale values, but sedans have been over-performing in the wholesale market. Truck and SUV availability constraints have buyers looking to sedans as an alternate vehicle of choice.
- Forecast is for strong resale values to continue into the 2022 calendar year.
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⏱ Timestamps ⏱
0:33 Assessing Today’s Used-Vehicle Market
1:35 Limited Supply Impacting Pricing
2:46 Why Used-Car Demand is Softening
3:27 Are We Approaching the Used-Car Price Peak?
4:41 Forecasting How Long Inventory Will Stay Low
5:37 What Vehicle Segments Have the Strongest Residual Value
7:29 How EVs Will Perform in the Used-Vehicle Market
9:15 Projecting the Strength of the Market
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Originally posted on Automotive Fleet