While wholesale prices did see their first drop after four previous months of increase, they did remain stable overall. The February Manheim Used Vehicle Value Index to a level of 125.1, which represented an increase of 1.5% from a year ago. The number of vehicles entering wholesale channels grew significantly in February. Prices remained above the trend due to automaker pricing discipline on the new vehicle side, and effective vehicle management prices by dealers on the used vehicle side.
Disappointment in New Vehicle Sales Did Not Bring Aggressive Promotions:
Some manufacturers have decided to slow production rather than force the market.
Most Dealers Reported Good Operating Results in Used Vehicle Departments:
Lease returns and newer trade-ins providing wider mix and dealers have been optimizing inventory to make most of it.
Compact Cars Weakest Segment of Wholesale Pricing in Recent Months:
That’s not surprising given slow sales and high days’ supply on the new vehicle side.