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Manheim Index Shows Used-Vehicle Wholesale Prices Up 2.1% in June
The market is seeing stronger appreciation in older used vehicles this year, and the most affordable segments have been among the year’s best performers.
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SEARCHMENUSEARCHThe market is seeing stronger appreciation in older used vehicles this year, and the most affordable segments have been among the year’s best performers.
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While inventory is up from 2022 levels, it remains low by historical standards. Meanwhile, the estimated typical monthly payment for a new vehicle declined to $754 from the peak of $791 in Dec. 2022.
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Prices usually decline in the first two weeks of April, but in each of the last two years prices increased substantially during these same weeks, the Manheim Index shows.
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Finding the right product at the right price is more challenging for buyers today. Sales for all of March were down 4% compared to a year ago.
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CAR 2023: A veteran Top Gun fighter pilot lays out the journey to living a life full of missions accomplished.
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Pressures assailing the wholesale used-vehicle market are affecting the important “days-to-sales” figures, a source of depreciation losses.
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Buyers in the used, new, and remarketed vehicle segments should expect continued growth in used electric vehicle sales as availability increases and retail prices decrease.
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After closing out 2022 with the longest-running, sharpest decline over a single year, wholesale used vehicle prices have risen in 2023.
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CAR 2023: The annual messages from the National Auto Auction Association and International Automotive Remarketers Alliance presidents homed in on the volume of industry activity and macro-influences on the market.
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The movement of new vehicles into fleet increases at a consecutive monthly pace with supply freeing up after several years of constraints, according to Bobit fleet data.
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CAR 2023: Recipients of the IARA Circle of Excellence, CAR Remarketer of the Year, and CAR Consignor of the Year awards swept the stage with industry accomplishments.
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