Tom Webb
Chief Economist
Manheim Consulting
Wholesale prices declined for 2nd consecutive month in February; Index now 3% below year-ago level; Weakening in prices not unexpected – result of payback for year-end uptick in prices caused by Hurricane Sandy as well as longer-term shift caused by wholesale market’s adjustment to growing future supplies after period of exceptional shortage.
Click here for February’s Manheim Used Vehicle Value Index
Despite Drags, Used Retail Sales Were Strong in Both January and February:
Months also produced 12% year-to-date increase in retail deliveries for dealers.
Total Commercial Wholesale Supplies (Sold at Auction or Not) Will Have Sizable Increases through 2015:
But they’re off a very low base and well within historical average range over past decade.
Off-Rental Risk Prices at Auction Approached Highs Reached Last Spring:
Average mileage (37,000) down 6% from a year ago; volume was up from last year.