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Wholesale used vehicle prices rose 2.77% in September on a month-over-month basis, which drove Manheim’s Used Vehicle Value Index up 6.3% from a year ago to 134.9, marking five months of consecutive growth.
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Fleet lease consignor prices moved higher in August, increasing 1.4% over July and 2.3% through the first eight months of the year compared with 2016, according to the Sept. 20 Kontos Kommentary.
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Auction prices for fleet lease vehicles have increased 1.8% through July even with a 0.1% decline in the month amid "price softening," according to Tom Kontos' latest commentary.
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Manheim has updated its vehicle valuation tool, the Manheim Market Report (MMR), to provide more detailed valuations of used vehicles to increase transparency and improve the remarketing process, the company announced.
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Average wholesale prices in June were down vs. June but up vs. a year ago. A drill down into the data, however, reveals price softening on a year-over-year basis when accounting for sales type, vehicle age, model class, and mileage, KAR Chief Economist Tom Kontos said today.
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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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As manufacturers continue to release new vehicles into the luxury segment, the number of vehicles in the segment has grown. This along with overproduction and higher incentives has led to higher depreciation rates for the segment.
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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.
Read More →Black Book will be powering MyDealerOnline, an online vehicle valuation resource that uploads wholesale auction and other wholesale-sourced vehicles to dealer websites, according to the company.
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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