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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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Sales are likely to be slightly less this spring selling season.
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But they remain off last year's pace because limited new-vehicle inventory has slowed the gently used segment due to fewer trade-ins.
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At the end of March, the average listing price was $27,246, off record levels in December when it surpassed $28,000. The list price was down some from the end of February when it was a revised $27,609.
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VP of client services Joe Miller, who has been a steady presence at industry conferences and events, takes on added roles at the auction data and management company.
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The pilot program goes national to give clients more detailed vehicle information to make smarter buying decisions.
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Consumers have paid more than MSRP for each of the last 10 months, whereas one year ago, non-luxury vehicles were selling for more than $1,300 under MSRP.
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A two-day auction event and party at the Baltimore-area operation will include the season’s largest consignment of vehicles that will run across 10 lanes.
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The second quarter – especially April – will be the strongest part of the year for used vehicle sales and values, and then slow down but not crash.
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On a month-over-month basis, all major segments saw seasonally adjusted price declines, with pickups declining the most.
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CAR 2022: After two years of the pandemic, the International Automotive Remarketers Alliance has emerged with stronger finances, more resources, and wider engagement.
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