With the completion of this rollout, Enterprise’s customers now have the flexibility to complete their used car purchase either by starting their purchase from the comfort of home (with delivery, where available) or completing their purchase at any of Enterprise Car Sales’ 147 U.S. locations.
The latest trends in the key indicators suggest used vehicle values are likely to continue to see appreciation in the days and weeks ahead.
Wholesale prices continued to gain strength for the first week of February in what Black Book Market Insights said is starting to look like the beginning to an early start to the Spring market.
According to the mid-month Manheim Used Vehicle Value Index average mileage for rental risk units in the first half of January — 49,800 miles — was down 3% compared to a year ago and down 4% month-over-month.
Wholesale used vehicle prices increased in the first 15 days of January compared to the month of December, bringing up the mid-month Manheim Used Vehicle Value Index.
Wholesale used-vehicle prices decreased 0.59% month over month in December 2020, bringing the Manheim Used Vehicle Value Index to 161.1, a 14.2% gain from a year ago.
There was a significant drop in sold volume (both month-over-month, and year-over-year) in wholesale channels from September to November of 2020.
Volume-weighted, overall car and truck segments both experienced continued softening in values to round out the last full week of 2020, but are higher than seasonal averages of the previous three years.
Wholesale used vehicle prices increased 0.4% in the first 15 days of December compared to the month of November, bringing the mid-month Manheim Used Vehicle Value Index to 162.6, a 15.3% increase from December 2019.
Wholesale used vehicle prices increased 0.07% month over month in November, bringing the Manheim Used Vehicle Value Index to 162 a 16.6% increase from a year ago.
Wholesale used vehicle prices increased 0.47% month-over-month in October, bringing the mid-month Manheim Used Vehicle Value Index to 161.9, a 15.4% increase from October 2019.
Wholesale used vehicle prices increased 0.9% in the first 15 days of October compared to the month of September, bringing the mid-month Manheim Used Vehicle Value Index to 162.7, a 16.0% increase from October 2019.
KAR Auction Services, Inc. has signed a definitive agreement to acquire BacklotCars Inc., an app and web-based dealer-to-dealer wholesale platform featuring a 24/7 “bid-ask” marketplace and comprehensive vehicle inspections performed by automobile mechanics.
Manheim expanded its Digital Block sales, adding seven more locations with in-lane bidding with a live auctioneer; however, vehicles are only displayed on screens and never travel down physical lanes.
Volume-weighted, overall car and truck segments both showed signs of slowing with the overall market decreasing by 0.15% this past week, compared to a 0.14% decrease the prior week.
The 2016 Conference of Automotive Remarketing (CAR) took place March 16-17 at Caesars Palace, Las Vegas. Now in its 21st year, CAR delivered high-quality discussions and information on subjects ranging from automating the if-bid system to how to maximize auction earnings to a look forward to residual values for 2016-2017. In addition, attendees had plenty of opportunities to network and build their personal and professional connections. Photos by Chris Wolski and Steve Reed.
View more photos
