Wholesale Prices See Temporary Upswing in January

Tom Webb
Chief Econ­o­mist
Man­heim Con­sult­ing

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.

Here’s the lat­est Man­heim Used Vehi­cle Val­ue Index report

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.

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