Wholesale used vehicle prices increased 5.84% month over month in July, bringing the Manheim Used Vehicle Value Index to 158 a 12.5% increase from a year ago and another record-high for the Index, which also occurred in June.
Wholesale used vehicle prices increased 8.95% month over month in June, bringing the Manheim Used Vehicle Value Index to 149.3, a 6.3% increase from a year ago and a new record-high for the Index.
Wholesale used vehicle prices increased 8.96% month-over-month in May 2020, bringing the Manheim Used Vehicle Value Index to 137%, which is 1.9% lower than it was at the same time in 2019.
Manheim is providing discounts and waiving fees for its online services to support customers and clients whose businesses are impacted by closures as a result of the COVID-19 pandemic.
Given how the COVID-19 pandemic has evolved, the company has extended its Simulcast-only sales past its original April 3 end date.
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.
Manheim will implement Simulcast-only sales at all of its U.S. locations effective March 16 to April 3, following the ongoing public health and safety concerns of COVID-19.
Companies such as Manheim and ADESA have invested time and money to bolster the digital side of their business to meet the demands of this growing field, and so have fleet management companies.
RideKleen has been testing a mobile maintenance service that will allow fleets to schedule oil changes at the vehicle to eliminate the downtime of a vehicle in a service bay.
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.