Last week we highlighted weak consumer sentiment translating into lower demand for big ticket items (i.e.. PCs, appliances). This week we noted several markets where prices have started to decline.
Wholesale used-vehicle prices (adjusted for mix, mileage, and seasonality) declined 3.3% in March from February, according to the Manheim Used Vehicle Value Index. The index declined to 223.5, which while still up 24.8% yoy, could be a sign that supply/demand for used vehicles is starting to normalize.