Tom Webb
Chief Economist
Manheim Consulting
Wholesale used vehicle prices fell for the third consecutive month in March. The Index came in at 120.4, which was 4.6% lower than a year ago. Recent moderation appears to be more of a natural realignment with new vehicle prices, as increased volume of wholesale vehicles has tied in well with higher retail demand for used vehicles.
Click here to read this latest Manheim Used Vehicle Value Index report
Retail Used Unit Sales Increased Nicely in First Quarter of 2013:
New vehicle sales begot used vehicle transactions, and higher off-lease and off-rental volumes led to subsequent retail sale of those units.
March Used Retail Sales Strong through Trade-ins and End-of-Term Fleet Units:
Retail market was also clearly helped by fundamentals of rising employment and free-flowing credit.
Average Mileage for all Units Sold in Auction Lanes Continued to Rise in Q1:
Shifts in average mileage and volume sold by price tier showed no meaningful differences in trend during Q1.