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Used Vehicle Prices Climb Higher As Sales Pace Slows
The higher prices at used retail reflect strong wholesale values earlier in the spring, particularly for older, more affordable vehicles.
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SEARCHMENUSEARCHThe higher prices at used retail reflect strong wholesale values earlier in the spring, particularly for older, more affordable vehicles.
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The Manheim Used Vehicle Value Index hit a record high for the second consecutive month, as wholesale used-vehicle prices rose 1.1% month over month in June. The increase brought the Index to 129.3, a 2.5% increase from a year ago.
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Using internet equipment auctions can help you overcome the problems of tight timelines, market value and changing brands, according to the company.
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New-vehicle sales through the first six months of 2017 are expected to be down 2.3%, and high quality off-lease vehicles may be part of the reason why, according to Kelley Blue Book.
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After five straight years of market-share gains, the SUV segment may be poised for a slowdown, according to a new analysis from Edmunds.
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IARA will be hosting its 16th Annual Summer Roundtable in Nashville this year. The three-day event will be held at the Hilton Downtown Nashville on Aug. 16-18.
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Wholesale auctions sold 9.8 million vehicles worth $100 billion in 2016 with the majority coming from dealer consignment, according to the National Auto Auction Association (NAAA). The association has been surveying its members for 20 years.
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Prices consignors booked from off-lease fleet vehicles fell 0.2% in May, but remain up 3.5% from a year ago, Tom Kontos wrote in his monthly Kontos Kommentary.
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Used vehicle prices experienced a reversal in May, falling 1.2% from the previous month, according to Black Book.
Read More →Wholesale values for used vehicles reach a record-high of 127.9, while new vehicle sales dropped 2% compared to last year.
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“It is expected that we will see more declines in the Index in the months ahead as we move deeper into the year, particularly driven by softness among car segments,” said Anil Goyal, senior vice president of Automotive Valuation and Analytics for Black Book.
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