Wholesale Used Vehicle Prices Decline for 5th Consecutive Month, Manheim Reports

August's decline was substantially less than previous months at only -0.4%.
August's decline was substantially less than previous months at only -0.4%.

Manheim's report for August's wholesale used car prices showed a continued  decline in prices for the fifth consecutive month. The Manheim Used Vehicle Value Index hit 120.7 in August — down 2.4% from a year ago, according to the report released Sept. 28.

August's decline was substantially less than previous months at only -0.4%.

Manheim said that further downward realignment in wholesale pricing is expected with current market conditions, but that adjustments will continue to be less severe. The report stated that prices will likely show some upticks as well as declines. 

Manheim noted that compact and midsize cars continue to fall at faster rates than the overall market — suggesting increased pressure from the new vehicle market. Compact and midsize cars also have the largest share of late-model units being sold at auctions. Manheim said that vehicles with model-year closeout programs are experiencing noticeable declines in pricing.

In the first part of September, Manheim said that wholesale prices were "virtually unchanged."

Related article: How Is Car Rental Faring with Low Vehicle Supply, High Prices?

Comment On This Story

Comment: (Max. 10000 characters)  
Please leave blank:
* Please note that every comment is moderated.


Newsletter: Sign up to receive latest news, articles, and much more.

Read the latest

Auto Focus Blog: A blog covering fleets, auto rental and the business of cars

Market Forces Driving Car Rental in 2018

An analysis of the conference calls of Avis Budget Group and Hertz Global Holdings reveal trends and initiatives involving fleet right sizing, pricing, ancillary revenue opportunities, and renting to ride-hailing drivers.

Trends Moving the Truck Market

Storylines that emerged from the 2018 Work Truck Show include the increasing need for on-site productivity, inclusion of active safety systems in trucks, DPF frustrations affecting product decisions, data management, and the growing link between fleet management and company revenue.

MIT Study Reinforces the Newfound Importance of Fleet

Uber and Lyft drivers make far less when factoring vehicle expenses, though the actual numbers are now in dispute. A proper lifecycle cost analysis would’ve helped, and shows the benefit of collaboration with fleet professionals.

Job Finder: Access Top Talent. Fill Key Positions.