Tom Webb
Chief Economist
Manheim Consulting
Wholesale prices are continuing to see an uptick; Manheim Used Vehicle Value Index now stands at 122.3, which represents an increase of 1.3% from its year-ago level and shows wholesale used vehicle prices rising for the third consecutive month in August. It was a significant increase – largest monthly gain since the jump seen at the end of 2012 due to the impact of Hurricane Sandy.
Here’s the latest Manheim Used Vehicle Value Index
Drivers of Current Strong Pricing More Positive than Post-Hurricane Sandy:
Low inventories and higher transaction prices in new vehicle market, and strong profit opportunities in retail used vehicle market.
New Vehicle Days’ Supply Dropped During August:
Led to strong new vehicle transaction prices and strong wholesale values.
Mileage-Adjusted Prices for Midsize Cars Basically Flat Relative to Year Ago:
In recent months, their seasonally adjusted prices have improved significantly – and, in fact, outperformed overall market.
