While wholesale used vehicle prices softened in May from the previous month, they were 4.7% higher than a year ago. The Index dropped from 124.9 in April 2014 to 124.7 in May, though it was higher than the 124.4 level reached in March 2014. The continued pricing strength reflects a strong retail market and only modest increases in wholesale supplies.
Accessible Retail Financing at Attractive Terms Helps Dealers Stay Profitable:
Another factor: retail used always competitive as franchised dealers increasingly focus on and improve this side of their business.
Franchised Dealers Up 4% and Independent Dealers Up 2.5% Year-to-Date:
Increase in used vehicle sales volume means dealers on track to set record in 2014.
Rental Risk Unit Prices Down from April High but 5% over Year Ago:
Average mileage for rental risk remained steady at just below 40K miles.