Only three of eight major market segments saw seasonally adjusted prices that were higher year over year in September. The full-year Manheim Used Vehicle Value Index forecast is expected to finish the year down nearly 14% YOY, up from the second quarter’s revised forecast of a 6% decline.
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Sales into commercial fleets were up 37% and sales into government fleets were up 28% last month compared to August 2021.
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All major market segments once again saw seasonally adjusted prices that were higher year over year in July.
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Combined sales into large rental, commercial and government buyers were up over 4% year over year in April.
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At the end of March, the average listing price was $27,246, off record levels in December when it surpassed $28,000. The list price was down some from the end of February when it was a revised $27,609.
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The second quarter – especially April – will be the strongest part of the year for used vehicle sales and values, and then slow down but not crash.
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On a month-over-month basis, all major segments saw seasonally adjusted price declines, with pickups declining the most.
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All major market segments saw seasonally adjusted prices that were higher year over year in the first half of March.
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The latest trends in the key indicators suggest wholesale used-vehicle values will likely see further declines in the second half of the month.
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Combined sales into large rental, commercial, and government buyers were down 36% year over year in January. Sales into rental declined 61% YOY, sales into commercial increased 4% YOY, and sales into government declined 23%.
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