💸 Wholesale prices have dipped, meaning customers who are already holding on to cars longer have less incentive to trade in their rides anytime soon.
On the other end of this rock-and-hard place equation, a shortage of parts, techs, and new cars have service and repair prices creeping up, too. Recently, they were placed as high as 19.7% up YOY. 👨🔧
Look on the bright side. New car inventory is increasing, and with some brands investing in tech training and scholarships, the mechanic shortage should gradually ease. In the meantime, consumers are looking for the best deals, and they would love for their local dealer to provide one. 🫵