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The Iranian conflict and rising gas prices inject much uncertainty into the future wholesale used vehicle markets, as higher gas prices soak up spendable income from vehicle buyers.
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The tariff announcements have spurred activity that suggests the wholesale market will see a sizeable increase in the Manheim Index in April.
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The legendary automotive expert helped develop the remarketing industry's leading resource on valuing and pricing used vehicles for the retail market.
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CAR 2024: Unlike a combustion engine, an EVs long-term value is maintained daily, based on the unique charging habits and battery management of its owner.
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Manheim expects constrained growth with a volume increase of less than 1% in 2024, indicating a return to a more normal market.
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The fourth quarter should bring stable pricing among buyers and sellers, which should reflect only modest changes between now and the end of the year.
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The Manheim Market Report values saw above-average declines that were relatively consistent, with values declining almost 4% in the last four weeks.
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Conditions have shifted to favoring buyers; but with tight supply, the market is close to a balance between buyers and sellers.
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Analysis: Consumers are repairing vehicles and holding them longer to avoid historically high used-car prices. The real question is: How long will used inventory remain tight and prices above normal?
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CAR 2023: What happens when you put four remarketing economists and analysts in one room? Lots of data, predictions, trends, and uncertainty.
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