With a lack of used vehicles and rental units returning to market, demand continues to outweigh supply. When will the market come back down to earth?
The transition to EVs is not a matter of if, but a matter of when, and the industry must pay attention to the impacts of the potentially imminent and rapid transition from ICE vehicles to EVs.
Wholesale values continue to drop for both cars and trucks as the COVID-19 pandemic continues to impact the industry.
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.
Overall car segment values decreased 0.65% last week. Meanwhile, overall truck segment values decreased 0.73%% last week
Overall car segment values increased 0.32% last week and overall truck segment values increased 0.20% last week.
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.
Vehicle values held steady last week, as various luxury segments continued to see positive movement in their week-to-week wholesale values.
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.
Overall wholesale values last week were strong, indicating a possible early start to the spring sales season.
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