ATLANTA – Wholesale used-vehicle prices (mix, mileage, and seasonally adjusted) increased for the fourth consecutive month in November, reported Manheim. The Manheim Used Vehicle Value Index now stands at 114.9, up 6.7 percent from a year ago and up 12.2 percent from the cyclical trough that occurred in April of 2003.

November’s seasonally-adjusted gain in wholesale prices was the largest since July of 1998 when a GM strike boosted demand for late-model used pickups and SUVs at auction. Unlike that gain, last month’s rise in wholesale prices was broad-based (included all vehicle classes, ages, and consignor types) and was driven more by economic fundamentals (the consumer’s willingness and ability to buy) than specific industry factors.