The economic outlook remains solid and the number of job openings is strong — adding to both lender and consumer confidence, according to Manheim’s Q3 wholesale report. A sign of this market trend is that the weakest pricing tiers remained in the $9,000-$11,000 range while luxury cars and SUVs and CUVs showed modest gains. Used vehicle operations — including CPO sales — look to be set up well for October.
Compact Car Prices Were Down 5.4% in September Compared to Year Ago:
Midsize Cars remain a weaker segments, but saw an increase of 2.6% Y-O-Y.
Luxury Car Values Had Small Gain of 0.5% Over Third Quarter of Last Year:
More efficient remarking of cars in this class is behind gains seen in the market.
Pickups Saw 11.8% Increase and Vans Up 5.1% Over Same Period Last Year:
Those top two spots were followed by SUVs and CUVS, which saw 3.1% gains.