Wholesale used vehicle prices increased 5.84% month over month in July, bringing the Manheim Used Vehicle Value Index to 158 a 12.5% increase from a year ago and another record-high for the Index, which also occurred in June.
Manheim's president who oversees the inventory solutions unit offers thoughts on fleet mobility services, bringing artificial intelligence to inspections, and the company's diversification strategy.
Used-vehicle auctions have started resuming regular business hours following the effects of Hurricane Florence, which had less of an impact on the U.S vehicle market than Hurricanes Harvey and Irma in 2017.
Used-vehicle values have held strong this year. A strong economy and more efficient remarketing strategies are helping make 2018 a banner year for used-vehicle values.
Wholesale used vehicle prices rose for the sixth month in a row in October, increasing by 1.02%, according to Manheim’s October Used Vehicle Value Index. This brought the index to 136.3, an 8.1% rise from a year ago.
Manheim has updated its vehicle valuation tool, the Manheim Market Report (MMR), to provide more detailed valuations of used vehicles to increase transparency and improve the remarketing process, the company announced.
The Manheim Used Vehicle Value Index hit a record high for the second consecutive month, as wholesale used-vehicle prices rose 1.1% month over month in June. The increase brought the Index to 129.3, a 2.5% increase from a year ago.
Attendees of the 2015 Auto Rental Summit conveyed a uniformly positive outlook. In the face of the many industry threats these days, what’s up?
The used car market will face a confluence of factors to make 2016 a challenging year.
Manheim has added two new trucks to its fast-growing mobile auction network. The company also outlined plans to roll out up to eight additional mobile units later this year, bringing the total number in service to as many as 24 by year’s end.