Wholesale Used-Vehicle Prices Increased in July Month-Over-Month

Used vehicle prices, which have been a significant factor in the decline of repairable collision repair claims, showed signs of stabilization in July. While prices were still down year-over-year, the rate of decline has slowed. This is positive news for the collision repair industry as it could potentially lead to an increase in repairable claims. However, the overall impact of declining used vehicle prices, coupled with rising insurance deductibles, continues to depress the number of repairable claims.

The used vehicle market itself is experiencing some shifts. Wholesale prices increased month-over-month in July, but overall, the market is still adjusting to lower lease returns. As supply tightens for popular 3-year-old vehicles, prices are expected to fluctuate more than usual. Additionally, retail used vehicle sales increased in July compared to the previous month, but were down year-over-year. The overall picture for the used vehicle market remains complex and dynamic.

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