April/May 2021 Used Vehicle Market Conditions
Average wholesale used vehicle prices continue to rise as overwhelming demand supersedes the dismal amount of supply. Average prices reached $14,000 in April and moved even higher in May to higher than $15,000. Even vehicle segments that normally experience minimal changes (compact autos) saw a sizeable increase in month-over-month percentages exemplifying the demand for all vehicle segments. Average vehicle segments have been well above pre-COVID levels consistently throughout 2021 and are anticipated to move even higher in the coming months.