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Wholesale prices picked up as February ended in a flow of early tax returns that fueled a normalized sales conversion rate, Cox Automotive says.
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Cox Automotive research shows sales fell 3.5% year-over-year.
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Segment doing better than thought, though overall used sales SAAR ended the month down Y-O-Y.
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July drop of 1.6% indicates slowing wholesale price declines, reports Cox Automotive.
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Total sales are projected to reach nearly three million units, up 2.8% year-over-year, according to Cox Automotive.
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Cox Automotive forecasts an improved used-vehicle market in latter half of the year.
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Uniquely positions Reynolds to offer dealerships a complete suite of tools for their used-vehicle business needs.
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4% lower than year-over-year, finds Cox Automotive Market Insights.
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The report, based on Cox’s analysis of Motor Intelligence data, reported 211,609 CPO sales in August.
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The industry saw 14.3% month over month growth, but CPO sales still fell 23.3% short of 2021 sales for the same month.
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