ATLANTA - Wholesale used vehicle prices (on a mix, mileage, and seasonally adjusted basis) rose 0.6 percent in August. The Manheim Used Vehicle Value Index was 112.1 for the month, representing a year-over-year increase of 2.7 percent.
Between January and July of this year, wholesale used-vehicle prices declined 4.2 percent and pushed valuations to a level where only a modest improvement in either supply or demand side factors was needed to produce stronger pricing. That’s what happened in August. This year’s first monthly gain in wholesale prices came in a market environment that was not that much different from July's. Lower new vehicle inventories and incentives (as compared to July) provided support to wholesale prices, but retail demand remained the same - stable, but unspectacular.