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Honda inventory shortage11/29/2023 ![]() ![]() Prices still falling – on average – but rate of decline slowing. JUNE 2023 AVERAGE USED-VEHICLE LISTING PRICE Similarly, according to the Manheim Used Vehicle Value Index, wholesale prices continued to decline. The average listing price closed the month at $27,147, down from the revised $27,720 at the end of May, which was the highest since early January. The average used vehicle listing price ended June lower than when the month opened. Dealers are balancing their inventory to the sales rate, keeping days’ supply steady, even as total supply continues to improve.” The used-vehicle market has shed the volatility seen during the pandemic and chip shortage, with inventory and prices holding rather steady, according to a Cox Automotive analysis of vAuto Available. Average used-vehicle listing price stays above 27,000. “So it is worth noting that days’ supply is fairly normal for this time of year, which is something we haven’t seen for three years. Posted: Novem1:27PM Author: John Goreham Though inventory remains tight, deliveries prove that Honda is ahead of the curve when it comes to resolving the new-car inventory. Used-vehicle inventory rose to 2.22 million units. Amid ongoing chip shortages and other shortages, production halts, and depleted inventories on dealer lots, auto sales in the US, as measured by the number of vehicles delivered to end users, plunged 25. “The last several months have followed very closely to 2019’s levels, the last normal year we’ve seen,” said Chris Frey, senior manager of Economic and Industry Insights at Cox Automotive. Toyota, whose sales plunged less than GM’s and Ford’s, was 1 in Q1. The Cox Automotive days’ supply is based on the daily sales rate for the most recent 30-day period, ending June 26, when sales were 1.43 million units, up 1% from a year ago. Days’ supply has been holding at this level since spring. The days’ supply was down 11% from year-ago levels. Carmakers are relying on their dealers to. Total days’ supply at the end of June stood at 47, compared with 46 at the start of the month. A majority of Toyota and Honda dealerships reported last year not having a single EV available for sale on their lots. That was up from a revised 2.12 million at the end of May but down 10%, or 241,000 units, from the same time a year ago. stood at 2.22 million units at the close of June. ![]() The total supply of unsold used vehicles on dealer lots – franchised and independent – across the U.S. data reflects that the current model year, 2021, averaged a 44-day marketwide supply in May, compared with 64 days for the 2019 model year in May 2019 (going back two years to eliminate. ![]()
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