Wholesale Prices Move Up for First Time in Months

Tom Webb
Chief Econ­o­mist
Man­heim Con­sult­ing

Whole­sale used vehi­cle prices moved up in Octo­ber, after declin­ing in each of the pre­vi­ous five months. The Index was down only 0.4% from Octo­ber 2013. Non-sea­son­al­ly adjust­ed prices fell dur­ing the month but the decline was less than nor­mal and took place while sig­nif­i­cant vol­ume increas­es were present. The strength like­ly came from high­er new vehi­cle trans­ac­tion prices, sta­ble incen­tives, and renewed con­sumer inter­est in used vehi­cles. Even so, whole­sale price declines are in the off­ing.

Check out the lat­est Man­heim Used Vehi­cle Val­ue Index

Deal­ers Once Again in Acqui­si­tion Mode Dur­ing Octo­ber Mar­ket:
That came about after elim­i­nat­ing some inven­to­ry-inten­sive posi­tions in Q3.

Auc­tion Vol­umes of Rental Risk Units Were Up Sig­nif­i­cant­ly in Octo­ber:
Aver­age mileage was at record 44,800 miles, and auc­tion prices down 6% from year ago.

Pick­ups and Vans Still Strongest Used Pric­ing Seg­ments Year-Over-Year:
Mid­size and com­pact car still suf­fer from new vehi­cle pric­ing and greater con­sumer inter­est in small crossover seg­ment.

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