Tom Webb
Chief Economist
Manheim Consulting
Manheim Used Vehicle Value Index was 123.3 in February, a 1.1% increase from a year ago and 0.8% over January. Income tax refunds played a part in propping up wholesale values; readily available and attractive retail financing deals helped make used market more profitable than actual sales numbers would suggest. Pressure on resale values coming from new vehicle sales, incentives, fleet deliveries, and growing wholesale supply.
February 2014 Manheim Consulting report
While Used Retail Sales Volume Was Down, Dealers Say Sales Profit Rising:
And CPO sales in first two months of 2014 were up 12.3%.
Compact Car Pricing Hurt by Ample Supply and Competitive New Vehicle Pricing:
Pickups remained in high demand in wholesale market with less-than-adequate supply.
At Straight Average, Rental Risk Prices Were Down from Year Ago but Up from January:
Average mileage in auction sales reached all-time high of more than 42,300.