Wholesale used vehicle prices slipped 0.1% in May. This brought the Manheim Used Vehicle Value Index to a level of 119.1, 4.8% lower than a year ago. May’s decline was not as steep as the previous four months, reflecting the ongoing re-alignment of new and used vehicle price ratios back to more normal levels.
Wholesale Pricing in 2nd Half of Year Might be Less than what Analysts Predicted:
Dominant forces likely to be retail volumes and dealer profitability, and used vehicle financing will likely strengthen retail markets.
Total UC Sales Rose by 2% in April, but Sales by Dealers Fell by 4.7% in May:
However, inventory turn rates and net profits remain healthy for most dealers.
Commercial Fleets Hurt by Vehicles in $11K to $13K Price Range Being Weakest Segment:
Prices for rental risk units sold at auction were flat compared to a year ago.