Wholesale used vehicle prices saw its second month in a row of increases, with November’s Manheim Used Vehicle Value Index at 123.3 – a 0.7% increase from a year ago. The May-through-September price decline brought down values by less than 3%, and the subsequent two-month rise have brought prices 1.3% below their April high. Auctions saw a lot of activity in November with dealers’ mood being one of active acquisition.
Lease Turn-ins and Newer Trade-ins Have Raised Used Selling Prices at Franchised Dealers:
Another strong month of CPO sales pushed their year-to-date tally up 10.2% from year-ago period.
Auction Prices for Rental Risk Units Moved Up in November Over October:
October’s downward move was exaggerated by heavy volumes of below-average condition vehicles.
Luxury Vehicles Continued to Outperform Overall Market in November:
But due to weakness earlier in year, luxury still has a lot ground to make up.