Tom Webb
Chief Economist
Manheim Consulting
The Manheim Used Vehicle Value Index reached 122.8, an increase of 1.7% from its year-ago level. Wholesale used vehicle prices rose for 4th consecutive month in September. While September’s rise in values was no surprise, Manheim Consulting expects prices to soften due to new-vehicle inventory increases and wholesale supplies to rise due to higher off-lease volumes. Also, year-over-year comparisons will be difficult since values were boosted in late 2012 by Hurricane Sandy.
Check out the latest Manheim Used Vehicle Value Index
August and September SAAR at 15.6M and More in Line with 2013 Forecast:
Automakers haven’t so far over-incentivized new vehicle sales, but lease deals continue to crop up.
Franchised Dealers See 4% Gain in Sales While Independents See 7% Drop:
Franchised retailing more trade-ins, lower-income have less to spend at independents.
Pickups Have Continued to Significantly Outperform Market in Used Values:
Growing supply of luxury cars has continued some price pressure.
