Auction Rental Risk Prices Up 8% Year-Over-Year

The average price for rental risk units sold at auction in the first 15 days of January was up 8% year-over-year, according to the January mid-month Manheim Used Vehicle Value Index. Rental risk prices were up 2% compared to December. Average mileage for rental risk units in the first half of January (at 49,800 miles) was down 3% compared to a year ago and down 4% month-over-month.

Wholesale used vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) increased 0.7% in the first 15 days of January compared to the month of December. This brought the mid-month Manheim Used Vehicle Value Index to 162.3, a 14.6% increase from January 2020, Manheim reported.

On a year-over-year basis, all major market segments saw seasonally adjusted price increases in the first 15 days of January, with luxury cars and pickup trucks outperforming the overall market.

Manheim also reported that used retail supply is slightly above normal levels, at 51 days. Wholesale supply has increased to 25 days for the most recent seven-day period, when normal supply is 23.