Cox Automotive Chief Economist Tom Webb published Manheim’s Used Vehicle Value Index results for July.
Here are a few highlights:
- Wholesale used vehicle prices increased in July for the fourth consecutive month. That brought the Manheim Used Vehicle Value Index to a reading of 127.0 for July, an increase of 2.3% from a year ago.
- The SAAR for new vehicle sales was 17.8 million in July, which is up considerably from June’s 16.6 million pace and the first half rate of 17.1 million.
- Total used retail unit volumes increased 5% in the first six months of 2016, with franchised dealers up 4% and independents up 7%
- All of the strength in wholesale pricing over the past year remains concentrated in pickups, mid- and full-size SUVs, and certain sports cars while all other market classes are flat to down.
- Although compact cars remained the weakest segment of all the major market classes over the past year, compact car pricing over the past three months outperformed the overall market
