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.
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.
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.
Given how the COVID-19 pandemic has evolved, the company has extended its Simulcast-only sales past its original April 3 end date.
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.
Manheim has updated its Manheim.com website with a new look and faster access to favorite tools, new standards for vehicle information across channels, and an enhanced Simulcast experience.
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.
Manheim has promoted Joe Kichler to vice president of Manheim Logistics.
Dealers who purchase a vehicle on Manheim Express are now able to order Ready Logistics’ transportation services directly through the app.
CUV/SUVs saw year-over-year declines to their wholesale values, but are still performing well due to continued demand for these segments and cheap gas prices, but an inflection point is approaching.