Wholesale used-vehicle prices decreased 0.59% month over month in December 2020, bringing the Manheim Used Vehicle Value Index to 161.1, a 14.2% gain from a year ago.
Wholesale used vehicle prices increased 0.07% month over month in November, bringing the Manheim Used Vehicle Value Index to 162 a 16.6% increase from a year ago.
Wholesale used vehicle prices increased 0.47% month-over-month in October, bringing the mid-month Manheim Used Vehicle Value Index to 161.9, a 15.4% increase from October 2019.
Wholesale used vehicle prices increased 0.9% in the first 15 days of October compared to the month of September, bringing the mid-month Manheim Used Vehicle Value Index to 162.7, a 16.0% increase from October 2019.
Wholesale used vehicle prices increased 3.64% month over month in August, bringing the Manheim Used Vehicle Value Index to 163.7 a 15.8% increase from a year ago and another record-high for the Index, which also occurred in June and July of 2020.
The average transaction price for a light vehicle in the U.S. in June was $37,285.
All vehicle segments, except for large utility vehicles experienced a decline in auction volume through the month, the report added.
One tactic that OEMs are leveraging in order to offset some of this growth is the use of incentives.
Manheim noted that this increase in wholesale price is an abnormal for this time of year, as higher depreciation is normally expected toward the end of summer.