A mid-month measure shows a slight increase in prices in June but continued lower price levels compared to 2023.
Monthly YOY and year-to-date sales point to a commercial fleet sector moving more vehicles into remarketing channels during the last six-plus months.
Sales conversion is running several points above the previous three years, including 2021, indicating that buyer demand is relatively strong despite all the uncertainty in the market.
While some weakening in the market over the Memorial Day weekend is seasonally normal, May saw more market softening in the latter half of the month.
The tool allows sellers to indicate they are committed to selling a vehicle that same day, and buyers can spot ready deals.
Fleet/lease sales are one factor spurring the volume, with 5-year-and-below vehicle sales up 32% so far this year.
Wholesale flattens mid-month, while used retail vehicle sales rose slightly but are still down compared to last year.
CAR 2024: An all-star panel of economists and data analysts find that used/wholesale vehicle prices and values will remain above the previous “normal” levels last seen in the late 2010s.
The Manheim Used Vehicle Value Index (MUVVI) fell to 198.4, a decline of 14% from a year ago.
An independent survey conducted for NAAA provides the most comprehensive picture available of the wholesale auto auction industry.
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