Wholesale used vehicle prices dropped just over 2% in the third quarter. The market showed signs of returning to more normal levels after historically high prices earlier during 2014. The Manheim Used Vehicle Value Index ended the third quarter at 121.4, a decline of 1.1 percent compared to a year ago.
New Vehicle Sales Boom Resulted in More Trade-ins and Lease Turn-ins Quarter:
Which led to an increase in inventories and put downward pressure on prices.
Certified Pre-owned Vehicle Sales Increased 20% in September:
10% rise year-to-date, as consumers had strong demand for quality, late-model used vehicles.
Compact Cars Continued to be Weakest Segment with Q3 Prices Down 3.4% from Year Ago:
Pick-ups and vans remained the strongest segment with prices up 6.5% for pick-ups and 1.5% for vans.