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Top 10 Trends Impacting the Automotive Industry Today

Used-Vehicle Prices

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Video Highlights

  1. A higher-than-normal increase in used-vehicle prices is partly due to hurricane replacement demand, and while that effect will level off in the next few months, predictions are that used-vehicles prices will remain solid due to retail demand for used cars.
  2. Strong retail demand for used cars is largely being driven by affordability. Dealers need to be aware of a consumer trend towards lower price points and used cars and should consider using stocking tools to align their inventory mix accordingly.

Contrary to analyst predictions that used-vehicle prices were going to plummet, we have seen a more-than-normal increase in used prices. In this video, Jonathan Smoke, Chief Economist at Cox Automotive, talks about the future of used-vehicle prices and the implications for retail demand for used vehicles.

Check out all of the Top 10 Trend videos to learn more:

2017 Manheim Used Car Market Report

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