Clunker hangover hammers September U.S. vehicle sales

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I'm surprised no one has pointed out the one positive of the "clunker hangover"...auction prices are finally trending downward!

We've all been paying big money for clean used cars over the past couple months to fill the empty voids left by the C4C cars, which has contributed to the already rising wholesale prices. Most floorplanned dealers are now on a strict 60 to 90 day turn, which means that after a slow month like Sept., they are going to have more cars to wholesale. Combine that with the usual curtailing of inventories heading into the winter months, and you will see the laws of supply and demand work their magic in the form of lower prices.

Over the past couple weeks I've noticed that there are a lot more nice, low mileage cars crossing the block than there have been in the last 6-8 months. I've also seen a lot more no-sales recently.

Any more thoughts on where the wholesale market is heading?

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