Background First Vehicle Services is based in Cincinnati
Manheim's Used Vehicle Value Index was at 106.2 in August, down from 106.5 in July. This marks the third straight monthly decline in wholesale used vehicle prices, however, year-over-year, prices are up 0.7 percent. Manheim’s Tom Webb says prices are helped by a low supply of off-lease units.
Declines in both commercial and consumer leasing is evident in the auction lanes as competition heats up for the remaining inventory. Experts say that fleet volumes should stabilize in the next cycle.