Wholesale used vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) increased 4.4% comparing the first 15 days of July to the month of June, according to data published by Manheim.
Wholesale used vehicle prices increased 8.95% month over month in June, bringing the Manheim Used Vehicle Value Index to 149.3, a 6.3% increase from a year ago and a new record-high for the Index.
Wholesale used vehicle prices increased 8.96% month-over-month in May 2020, bringing the Manheim Used Vehicle Value Index to 137%, which is 1.9% lower than it was at the same time in 2019.
According to Manheim, wholesale used vehicle prices increased 5.74% in the first 15 days of May compared to the month of April. New and used retail vehicle sales show substantial gains from March’s free fall.
Analysts found that, as in 2018, consumers continued to abandon car segments in 2019. Light trucks are on track to account for more than 70% of overall new-car sales for 2019, while cars will account for less than 30% of new-car sales.
The average three-year-old used vehicle cost buyers $14,443 less dollars then its new equivalent during the second quarter of 2019, according to the latest Used Vehicle report from Edmunds.
Overall used vehicle values are at strong levels. Crossover values are holding steady but there is cause for concern in the near future. Sedan values are expected to improve or stabilize as more crossovers enter the market.
Prices and volume are not expected to plummet in 2019, but industry experts seem to feel that the best-case scenario will be a plateau, and more realistically, will fall slightly.
The passenger car segment was a main contributor to the the rise in used-vehicle prices in 2018.
The average price for used fleet vehicles fell 2% at auction in October, but remained 6.1% higher than a year ago amid a strong month for wholesale prices, according to Tom Kontos, KAR Auction Services' chief economist.