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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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TradeRev cut down vehicle delivery times by nearly 50% in the first half of 2019. The company is now on pace to deliver cars within 100 miles in two days
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Subcompact crossovers were the only segment that saw a positive change last month, compact vans and luxury cars saw the biggest declines.
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The value of former fleet vehicles sold at physical auctions and through other wholesale channels fell 1.6% in September compared to August but were 0.9% higher than a year ago, according to commentary by KAR Global's chief economist.
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Vehicle logistics provider Acertus has launched a transportation management platform that allows vehicle manufacturers and shippers such as fleet management companies to better manage the process of moving vehicles between locations.
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Both the car and truck segment saw similar depreciation: overall car segment values decreased 0.51% last week compared to 0.65% the week before while truck segment values decreased 0.54% compared to 0.48% the week before.
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The used wholesale market showed strength in September, as values overall held up in line with what’s expected in summer, but the market is also beginning to show signs of weakness.
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Wholesale used vehicle prices decreased 1.04% in September compared to prices the month before, according to Cox Automotive’s latest Manheim Used Vehicle Value Index report.
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Used vehicle values are beginning to buckle as depreciation continues to accelerate, particularly among sedans, according to Black Book’s Oct. 1 Market Insights report.
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Used fleet vehicles that sold at wholesale fell 1.5% to $13,603 in August from July, but remained up 1.2% when compared to the same month a year ago, according to Tom Kontos, chief economist for KAR Auction Services.
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KAR Auction Services Inc. has rebranded and will begin doing business as KAR Global, the company announced.
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