Wholesale used vehicle prices rose 0.5% in January. The Manheim Used Vehicle Value Index reading was 122.3 in January, which represented a 0.9% decline from a year ago. The general consensus is that wholesale prices will see a moderate decline in 2014, but it’s still not surprising to see temporary swings against that trend. Weather and other factors temporarily offset upward trajectory of wholesale supplies, and dealers’ retail used vehicles appeared to continue their profitability.
New Vehicle Sales Softened During Harsh Weather Conditions:
SAAR was at 15.2M in January vs. 15.4M in December and 15.6M for full year 2013.
Franchised Dealers Posted 2.4% Gain in Used Sales During Month:
Despite weather-related headwinds; CPO sales again played an important role.
Rental Risk Unit Prices Fell in January Relative to December in Straight Average:
But rental risk prices were up after adjustments for changes in mix and mileage.