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Manheim Forecast: Tax refunds and a supply-constrained market will likely lead to another round of price increases in the first half of 2022
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During the first 15 days of December, the Manheim Used Vehicle Value Index hit 239.8, a 49% increase from December 2020.
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Available inventory edged slightly higher but remain below normal.
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Despite constrained inventory, the used-vehicle market has been playing a key role in the automotive industry recovery.
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Meanwhile, used supply normalizes, rental risk pricing declines, and auto loan performance deteriorates.
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With the help of industry experts, Automotive Fleet takes a look at the current state of the used-vehicle market and what the near future may hold.
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October figures show buyers are much more aggressive in purchasing than is typically the case in the fall. Combined sales into large rental, commercial, and government buyers were down 24% year-over-year in October.
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But days’ supply climbed to 43 in September, the highest it has been in months, on higher inventory and slower sales.
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Manheim Market Report (MMR) prices saw strong gains through the first two full weeks of October. The latest trends in the key indicators suggest wholesale used vehicle values will likely see further gains in the days ahead.
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The seasonally adjusted annual rate (SAAR) of sales declined to 35.7 million, down from 40.9 million in September 2020.
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