An Auction Rebound, With an Asterisk

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THE BIG PICTURE

An auction rebound, with an asterisk

The headline says wholesale values recovered. The detail says buyers should keep their pencils sharp: Manheim’s adjusted used-vehicle index rose 0.7% in the first half of October, while unadjusted wholesale prices fell 2% from September. Both figures appear in Cox Automotive’s October 19 report. (Cox Automotive)

That is not a contradiction. The index adjusts for vehicle mix, mileage and seasonality; the unadjusted series does not. The index reached 207.4, up 2.2% from a year earlier, but Cox’s Jonathan Gregory cautions that last October’s unusually weak comparison helps the annual gain. His interpretation: leaner supply, rather than stronger dealer buying, has steadied the market. (Full report)

Wholesale supply slipped from 28.7 days at September’s end to 28.2 days on October 15. Meanwhile, auction sales conversion averaged 54.3%, slightly above last year but below September. Those are wholesale measures, not the retail inventory figures we covered Monday. (Cox Automotive)

The segment split matters more than a blanket “market is up” message. Compact-car values were 5.6% higher year over year, while pickups were down 0.3% and luxury vehicles down 0.4%. EV values remained 6.8% above a year earlier but slipped 0.7% from September; Gregory points to growing off-lease supply as one pressure on momentum. (Segment findings)

For your store, sharpen model-level buying limits rather than raising every bid. Keep the likely retail exit, recon allowance and days-to-front-line in the calculation. A national midmonth improvement is context, not a promise about your next vehicle.

AT THE DESK

The payment moved the wrong way

Cox and Moody’s Analytics put September’s typical modeled new-vehicle payment at $776, up 0.8% from August and the highest since December 2023. The affordability index rose to 35.7 weeks of median household income, versus 35.5 in August; a higher reading means less affordability. (October 19 report)

This is a national model, not an average payment quoted by Florida stores. Its methodology assumes a 72-month loan and 10% down payment, so it should not be presented as the terms available to a particular customer. (Index methodology)

The practical response is clearer choices, not just a longer term. Show the customer what changes when price, cash down, trade equity or vehicle choice changes, and keep total cost visible alongside the monthly number. That makes the conversation about a workable purchase rather than a payment the rest of the deal cannot support.

WORKFORCE WATCH

A strike mandate, not a shutdown

The result we were waiting for Monday is in. Unifor says 97.3% of participating Stellantis members voted to authorize strike action in Canadian votes held October 17–18. The union announced the result October 19. (Unifor announcement)

The important qualification is in the same release: Unifor says it was not yet in a legal strike position, because neither side had requested a “No Board” report, a required procedural step. Authorization strengthens the bargaining committee’s mandate; it is not a strike announcement or a confirmed production stoppage. (Union statement)

For Florida stores, this belongs on the supply-watch list, not in a customer shortage claim. Keep delivery promises tied to confirmed build and transport information. The next useful signal is an actual bargaining or production update, not another interpretation of the vote percentage.

OEM WATCH

Stellantis keeps U.S. EVs in the plan

Stellantis’ emphasis on combustion-engine products does not mean it has abandoned future U.S. EVs. In original reporting published October 19, WardsAuto says CEO Antonio Filosa told its reporter during a Paris Motor Show Q&A that the company would continue launching EVs, guided by consumer demand. His expectation of longer-term growth is a forecast, not an announced sales result. (WardsAuto)

That direction leaves dealers with a mixed-powertrain planning job. It does not establish a new model’s Florida allocation, delivery date or price. Keep ordering and training decisions tied to the specific products and timing the manufacturer confirms, rather than treating either “all electric” or “no more EVs” as the whole story.

SERVICE LANE

F-150 seat-bolt recall: check the VIN before delivery

Ford’s October 9 dealer notice for recall 26S74 / NHTSA 26V655 directs dealers to inspect and secure front seat-to-body bolts before demonstrating or delivering affected new in-stock 2025–27 F-150s. Missing or improperly torqued bolts can compromise restraint performance in a crash. (Ford dealer notice)

This is an existing, VIN-specific action, not a new blanket stop-driving instruction. Ford identifies affected vehicles through OASIS and its FSA VIN lists; the notice explicitly distinguishes new-stock requirements from used vehicles. (Ford instructions)