ZeroSum Market First Report November 2022: New Vehicle Inventory and Prices Rise as Used Vehicles Become Harder to Afford

ZeroSum Market First Report November 2022: New Vehicle Inventory and Prices Rise as Used Vehicles Become Harder to Afford

Nov 30, 2022 by PR Newswire

Key Facts

  • ZeroSum New Vehicle Market First Report Data New vehicle inventory is at its highest level since mid-year 2021 as prices continue to rise and inversely used car inventory and prices are both falling.
  • According to ZeroSum data, new vehicle inventory has increased another 9.64% since the start of October while used vehicle inventory has declined 2.61%.
  • According to Cox Automotive analysts, the average monthly payment for a used vehicle is currently $551, 47% higher than in 2019 and is forecast to reach $570 by the end of the year.
  • Especially for cars that are higher in value or harder to sell, it will be crucial to reduce your days on lot and be selective with your inventory to maintain profitability.

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