Despite an expected 8.5% year-over-year decline in August volume, Cox Automotive forecasts a 16.3 million SAAR, with full-size pickups outperforming several major crossover segments.
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Volume-weighted, wholesale values for overall car and truck segments both showed gains for the ninth week in a row, increasing 1.46% overall last week (compared to 1.45% the prior week).
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Wholesale used vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) increased 4.4% comparing the first 15 days of July to the month of June, according to data published by Manheim.
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Wholesale used vehicle prices increased 8.95% month over month in June, bringing the Manheim Used Vehicle Value Index to 149.3, a 6.3% increase from a year ago and a new record-high for the Index.
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The second week of June continued a story of rebounding wholesale prices, with volume-weighted overall car and truck segments both showing gains for a third week in a row, gaining 0.62% overall, Black Book reported.
Read More →Wholesale used vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) increased 6.6% comparing the first 15 days of June to the month of May.
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The industry quickly turned to online services when the pandemic hit, utilizing digital-only sales, which ultimately kept the industry from halting completely.
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Topics mentioned includes the state of the wholesale used-vehicle market; how an increase in employment will boost demand in the used-vehicle market; and sales activity at auctions starting to pick up.
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KAR Auction Services Inc. announced that long-time senior executive Warren Byrd will step down from KAR Global after 23 years with the company.
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Wholesale used vehicle prices increased 8.96% month-over-month in May 2020, bringing the Manheim Used Vehicle Value Index to 137%, which is 1.9% lower than it was at the same time in 2019.
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Black Book’s latest COVID-19 Market Update found that while used vehicle values have continued to depreciate since the last week of March, the rate of depreciation has been significantly lower over the last two weeks.
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