Wholesale prices in March were down 0.5% from February but were virtually identical to one year ago. The Manheim Used Vehicle Value Index was 124.5 in March, and 124.4 in March 2014. On a quarterly basis, the first quarter was 1.6% higher than Q4 2014 and 1.3% higher than Q1 2014. Strong profit opportunities on the retail side have helped wholesale prices remain slightly above the trend level.
New Vehicle Sales Environment Remains Supportive to Used Vehicle Values:
Average transaction prices continue to rise, and overall incentive spending was flat.
Overall Used Vehicle Market Stable with Strong Late-Model Vehicles Sales:
Franchised and independent retail sales appear to have been level with year ago.
Rental Risk Units Saw Auction Prices Spike in March from February:
Seasonal movement less than last year’s spike – prices down 4.2% from year ago.