ATLANTA – Wholesale used-vehicle prices (on a mix, mileage, and seasonally adjusted basis) declined significantly in July. The Manheim Used Vehicle Value Index was 111.4 for the month, representing a 1.3-percent decline from June. Since wholesale values fell even more steeply last July (due to employee pricing), the year-over-year change in the Index improved to +2.4 percent.
The softness in wholesale used-vehicle prices in July was a direct result of the pressures created by the need to move new-vehicle inventory and by a general weakness in the retail used-vehicle market. However, the used-vehicle market is large and diverse, so, there were some segments and players that bucked the overall trends, according to Manheim.