Black Book: Used Listings Stabilize

By Staff Writer December 08, 2021

During the third quarter, used retail prices continued to rise at a slower rate but have since picked up, Black Book reported. After continued strong increases, the retail listing price index has increased to just over 34% above where the market started the year.

This analysis is based on approximately two million vehicles listed for sale on U.S. dealer lots. The accompanying graph looks at 2-6-year-old vehicles.

Heading into the last month of the year, used retail listings have stabilized around 16% below where we started the year. Generally, at this time of year, used retail listing volume is expected to increase as new models are launched and incentive spend increases.

Black Book’s weekly report also showed that days-to-turn for used retail listings have slightly increased and now sits around 38 days, which is still lower than what is typically expected.

Current volume is less than what was seen in both CY19 and CY20. With significantly reduced new inventory volume and decreasing used inventory, Black Book reported, it is no surprise that there are fewer retail listings available overall.

After the Thanksgiving holiday, activity on the lanes resumed and prices and sales rates increased. As the shortage of new vehicles continues, vehicles with low miles continue to warrant the most attention.

 

• On a volume-weighted basis, the overall Car segment increased +0.25%. For reference, the previous week, cars increased by +0.13%.
• Compact Cars had 15 weeks of consecutive gains, but this past week they experienced some softening with a decline of -0.15%. However, newer (0-to-2-year-old) Compact Cars increased by +0.11%.
• Mid-Size (+0.34%) Cars continued to report a large increase for a sixteenth consecutive week.

• The volume-weighted, overall Truck segment increased +0.50%, compared to the prior week’s increase of +0.21%.
• Compact Vans (+2.55%) reported a large increase again last week. This segment has now had increases in 42 out of the last 44 weeks, for an average weekly increase of +0.74%.
• Full-Size Vans have now increased for 44 of the last 45 weeks, with an average weekly increase of +0.62%. Last week, the segment had a gain of +0.82%.

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Last modified on Wednesday, 15 December 2021 14:53