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.
The IARA Summer Roundtable conference balanced a look back at successes while confronting industry challenges ahead.
High prices and relatively tight inventory keep more buyers at bay.
The average listing price reached $25,500 as July closed, after surpassing the $25,000 mark for the first time ever in June.
On a year-over-year basis, all major market segments saw seasonally adjusted price increases in July.
The latest trends in key indicators suggest wholesale used vehicle values will continue to see depreciation in the days ahead.
Survey: Car dealers are most optimistic when traffic is good, profits are strong, and when new and used vehicles prices are high.
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.
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