Over the last two weeks, Manheim Market Report (MMR) prices declined an aggregate of 1.9%, which was more than the normal decline of 1% for the time of year.
Wholesale used-vehicle prices decreased 2.3% in October from September and were down 4% from a year ago.
October’s price decline is eerily similar to last October’s 2.2% drop, and this was not unexpected as the market remains balanced.
Almost all major market segments saw seasonally adjusted prices that were again lower year over year in the first half of October.
September auction sales bolstered prices through the channel, but wholesale is at a crossroads, mainly from concerns about the UAW strike possibly slowing new retail sales and moving buyers into the used market.
With sales slightly stronger than expected, tight supply, and prices at about 6% below last year, these factors are expected to prevent any substantial decline in wholesale prices through year-end.
The conversion rate indicates that the first 15 days of August saw buyers with more bargaining power for this time of year.
CAR 2023: What happens when you put four remarketing economists and analysts in one room? Lots of data, predictions, trends, and uncertainty.
The vehicle scans will check vehicle exteriors, undercarriage components and tires to quickly produce online user-friendly reports that include high-resolution photos.
All eight major market segments again saw seasonally adjusted prices that were lower year over year last month, with compact cars showing the smallest decline.
media brand
The secure and easy all-access connection to your content.
Bookmarked content can then be accessed anytime on all of your logged in devices!
Already a member? Log In
