Edmunds reposted this
Car shoppers who sat out the last few years made a dramatic return to both the new and used markets in Q1 2024 thanks to an enticing combination of increased new vehicle supply and cooling prices. How do we know this? The average trade-in ages for new and used vehicle purchases are on the rise. According to Edmunds data, in Q1 2024, the average trade-in age for new vehicles climbed to 6.1 years and 9.4 years for used vehicles, compared to 5.3 years for new and 7.9 years for used in Q1 2022. This trend has major implications for the overall industry, but most notably: 📈The used market is getting a boost from older, more affordable vehicles 🚀 Used vehicles are flying off dealer lots at record rates ❗Transactions with trade-ins are bringing more money to the table for dealers and automakers More Q1 2024 used vehicle market analysis can be found on Edmunds here: https://lnkd.in/gCMqRQVq
Director, Transportation and Logistics
2moCongratulations, if you need help transporting vehicles in open or enclosed carriers please reach out to me and we can deliver or pickup from the contiguous United States!