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.
Manheim’s flagship auction location sold more than 8,200 of the approximately 10,000 vehicles offered for sale digitally during the week ending June 19, 2020.
Manheim has named four new general managers at four locations, including businesses in Florida, Minnesota, and Cincinnati.
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 11.41% month-over-month for the month of April, bringing the Manheim Used Vehicle Value Index to 125.8, which is 9.2% lower than it was at the same time in 2019, and is the lowest level seen in three years.
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.
Manheim is providing discounts and waiving fees for its online services to support customers and clients whose businesses are impacted by closures as a result of the COVID-19 pandemic.
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 will implement Simulcast-only sales at all of its U.S. locations effective March 16 to April 3, following the ongoing public health and safety concerns of COVID-19.