Wholesale used vehicle prices saw their first month-over-month increase right after a four-month decline. At 123.9 on the Manheim Used Vehicle Value Index, it was down 0.1% from a year ago; however, wholesale prices were stronger than expected last month and for this year overall. Solid retail marketing, operating efficiencies, and good remarketing practices are strengthening the market. It does appear that with further acceleration in wholesale supplies, along with seasonal patterns, downward pressure will be put on pricing.
Retail Sales Rose in April and May After Being Down in First Quarter:
CPO sales continued record page – up 17.6% in Jun and 12.5% for first half of year.
Auction Prices for Rental Risk Units Declined 6.5% Between March and June:
Older and rougher-condition vehicles being sold had much to do with the decline.
Pickups and Vans Were Only Segments with Price Increases Year-Over-Year:
For pricing tiers in overall market, $9K-$11K weak and everything above $15K strong.