This growth was in large part fueled by the strong performance of lower-priced vehicles. Compact cars and midsize cars, in specific, saw the strongest growth among all vehicle segments and outperformed the overall market.
Image courtesy of Manheim.
Most used vehicles running through Manheim auctions saw seasonally adjusted price gains in January, according to Manheim.
This rise in values among the majority of vehicle segments led to a rise in Manheim's Used Vehicle Value Index, which grew 3.3% to 135.4 in January.
This growth was in large part fueled by the strong performance of lower-priced vehicles. Compact cars and midsize cars, in specific, saw the strongest growth among all vehicle segments and outperformed the overall market, in terms of value at auction.
In contrast, utility vehicles and pickups underperformed the overall market.
In the retail market, used vehicle sales volume was down 1.1% year-over-year in January, according to Cox Automotive. New vehicle sales also saw a decline in sales, falling 2.1% year-over-year.
Meanwhile, combined rental, commercial, and government new-vehicle sales were up 10.2% year-over-year in January.
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