The average listing price for used vehicles set another record in August as vehicle inventory dipped, according to the Cox Automotive analysis of vAuto Available Inventory data, though available supply fell, days’ supply held steady throughout August because sales slowed.
Higher used vehicle prices are a positive factor for the collision repair industry as the higher price allows more repairs to be performed to a vehicle before it is declared a total loss.
“The lack of supply in the new market is also affecting the used market,” said Cox Automotive Senior Economist Charlie Chesbrough. “Used sales have slowed in recent
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