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Manheim Market Report (MMR) prices saw strong gains through the first two full weeks of October. The latest trends in the key indicators suggest wholesale used vehicle values will likely see further gains in the days ahead.
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The sales conversion rate also increased last month and ended at a level higher than typical for August, indicating buyers have become more aggressive than they were in June and July.
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The mid-month Manheim Used Vehicle Value Index is still up 18% year over year.
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On a year-over-year basis, all major market segments saw seasonally adjusted price increases in July.
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For April, Manheim’s rental risk unit share fell to the lowest level since 2002. Rental car companies are net buyers, not sellers, of wholesale used vehicles right now, says Cox Automotive’s Jonathan Smoke.
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Wholesale used vehicle prices jumped 3.79% month-over-month in February, led by a major increase near the month's end.
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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.
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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.
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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.
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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.
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