Wholesale used vehicle prices dropped 11.8% month-over-month so far in April, bringing the Manheim Used Vehicle Value Index to 125.2, which is 9.6% lower than it was at the same time in 2019, and could reach lows not seen since 2008.
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Now in the midst of the coronavirus crisis, pressure on residual values is predicted to increase lender’s credit losses as vehicle sales slow and unemployment rises. Now is the time for some creative online solutions.
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Wholesale used vehicle prices increased 1.35% month-over-month in February, bringing the Manheim Used Vehicle Value Index to 143.5, which is 6.2% higher than it was at the same time in 2019.
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Vehicle values held steady last week, as various luxury segments continued to see positive movement in their week-to-week wholesale values.
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Overall car segment values decreased 0.11% last week, compared to a 0.04% gain the week before. Overall truck segment values decreased 0.03% last week, compared to 0.19% the week before.
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Overall wholesale values last week were strong, indicating a possible early start to the spring sales season.
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Overall car segment values decreased 0.21% last week, compared to 0.13% the week before. Overall truck segment values decreased 0.18%, compared to 0.28% the week before.
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Retail sales have been trending downward in recent years and that trend is expected to continue as the industry’s supply of gently-used off-lease vehicles continues to grow.
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Overall car segment values declined 0.13% last week, compared to 0% the week before. Overall truck segment values decreased 0.28% last week, compared to 0.17% the week before.
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A 17.1 million total would match 2019’s total and mark the sixth year in a row that new-vehicle sales would top 17 million.
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