The first quarter saw an increase in wholesale used vehicle prices – up 1.3% from a year ago and 1.6% from the fourth quarter of 2014, according to the Manheim Used Vehicle Value Index. Strong consumer demand is helping, as are a stable job market and attractive financing. As for price segment performance, the strongest demand for used vehicles was in the $15,000-$20,000 and $20,000-$25,000 pricing tiers; the weakest continued to be in the $9,000-$11,000 range.
Wholesale Prices Remained Above Trend Level During First Quarter:
Strong profit opportunities in retail market helping with consumers continuing to see value in purchasing used vehicles.
Compact Car Prices Weakest Segment in March and Down 5.2% from Year Ago:
Luxury car prices increased 1.3% over year ago, expect values to bounce back in April.
New Vehicle Inventory Levels Should Help Used Vehicle Values in April:
Will see in auction lanes if dealers placed right money on number of trade-ins they received in March.