Wholesale prices rise again in August, according to Manheim Consulting. Wholesale used vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) rose for the third consecutive month in August. The Manheim Used Vehicle Value Index now stands at 122.3, which represents an increase of 1.3 percent from its year-ago level.
The August increase in wholesale prices was the largest since the jump at the end of
last year due to the impact of Hurricane Sandy, according to Manheim Consulting. The drivers of today’s strong wholesale pricing are more positive – low inventories and higher transaction prices in the new vehicle market and strong profit opportunities in the retail used vehicle market.
Wholesale transactions through September 20 show seasonally adjusted auction prices continuing to rise.
For more information, contact Manheim Consulting at 800-777-2053; www.manheimconsulting.com.
First quarter unit sales for used cars increased in the first quarter.
Manheim Used Vehicle Value Index rises 1.7 percent from year-ago level.
Sales for the first four months of 2013 were up 5 percent in total, and 7 percent for dealer sales.
Greater supply of used cars to end five years of price growth, but prices will remain at historically high levels.