Wholesale used vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) increased 8.3% month over month in April. This brought the Manheim Used Vehicle Value Index to 194.0, a 54.3% increase from a year ago and a record high for the Index, according to a news release from Cox Automotive.
Manheim Market Report (MMR) prices saw weekly price increases in April that reached peak acceleration mid-month. The Three-Year-Old MMR Index, which represents the largest model year cohort at auction, increased 2.0% in each of the two middle weeks of the month. Over the four full weeks of April, the Three-Year-Old Index increased 7.6%. Over the month of April, MMR Retention, which is the average difference in price relative to current MMR, averaged 102.9%. The sales conversion rate also increased for most of the month but began declining in the final week of the month.
On a year-over-year basis, all major market segments saw seasonally adjusted price increases in April. Pickup trucks outperformed the overall market, while most other major segments underperformed the overall market.
Originally posted on Vehicle Remarketing