August saw 0.7% decline in wholesale prices, 4th consecutive monthly decline. The Index came in at 121.8, down 0.4% from a year ago. Manheim sees wholesale pricing trend returning to trend levels for entire series back to 1995. That took place after an extended period of exceptionally strong prices. Increased wholesale supplies and moderating retail demand are also playing their part.
Retail Used Unit Sales by Dealers Declined for 3rd Consecutive Month in August:
Dealers are reporting that turn rates are good and net margins are strong.
Rental Risk Units at Auction Saw Prices Decline for 4th Consecutive Month:
New vehicle sales into rental up 10% in August; increased flow back into wholesale is inevitable.
Pickups and Vans Only Major Market Classes up Year-Over-Year:
Luxury cars continued having largest decline, but pace of decline wasn’t out of line with overall market.