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The COVID-19 pandemic is still plaguing the light vehicle market, but May’s sales pace is still expected to be a giant step forward on the path to recovery.
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Wholesale used vehicle prices dropped 11.8% month-over-month so far in April, bringing the Manheim Used Vehicle Value Index to 125.2, which is 9.6% lower than it was at the same time in 2019, and could reach lows not seen since 2008.
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Given how the COVID-19 pandemic has evolved, the company has extended its Simulcast-only sales past its original April 3 end date.
Read More →Wholesale used vehicle prices increased 1.35% month-over-month in February, bringing the Manheim Used Vehicle Value Index to 143.5, which is 6.2% higher than it was at the same time in 2019.
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Manheim has updated its Manheim.com website with a new look and faster access to favorite tools, new standards for vehicle information across channels, and an enhanced Simulcast experience.
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Retail sales have been trending downward in recent years and that trend is expected to continue as the industry’s supply of gently-used off-lease vehicles continues to grow.
Read More →Manheim has promoted Joe Kichler to vice president of Manheim Logistics.
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Rivian has closed an investment round of $1.3 billion, the fourth investment the battery-electric truck and SUV startup will receive in 2019.
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Dealers who purchase a vehicle on Manheim Express are now able to order Ready Logistics’ transportation services directly through the app.
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CUV/SUVs saw year-over-year declines to their wholesale values, but are still performing well due to continued demand for these segments and cheap gas prices, but an inflection point is approaching.
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