The latest numbers more activity in the lanes at Manheim in the second half of the month and finished the last week of February with some of the strongest weekly gains in wholesale prices for many years.
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CAR 2024: The Conference of Automotive Remarketing will bring together four leading economists and analysts for an annual presentation and discussion.
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As the wholesale market returns to a new normal following the pandemic, this seminar looks at an overview of the current market, including inventory and pricing, as well as emerging trends.
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Meanwhile, used vehicle retail sales pick up in January thanks in part to vehicle prices being down 4% year-over-year, boosting affordability.
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In a first-ever metric compiled by Cox Automotive, seasonally adjusted electric vehicle values ended 2023 down 17%, while non-EVs were down 7.1% for the year.
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All major vehicle segments saw price declines compared to last month, with most categories exceeding the average industry decline.
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Manheim expects constrained growth with a volume increase of less than 1% in 2024, indicating a return to a more normal market.
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Wholesale supply ended November at 30 days, up one day from the end of October and flat year over year.
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The longtime automotive remarketing executive is credited with establishing a best-in-class risk management approach and accelerating the company’s digital transformation.
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Analysts are expecting a measured movement through December and the year, which should reach the January forecast for a 4% year-over-year decline.
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