The sales conversion rate also increased last month and ended at a level higher than typical for August, indicating buyers have become more aggressive than they were in June and July.
The IARA Summer Roundtable conference balanced a look back at successes while confronting industry challenges ahead.
On a year-over-year basis, all major market segments saw seasonally adjusted price increases in July.
The latest trends in key indicators suggest wholesale used vehicle values will continue to see depreciation in the days ahead.
Demand has been healthy, inventories tight, and dealers have felt little pressure to lower prices.
The average listing price surpassed the $22,000 mark for the first time ever in April, closing the month at a new high of $22,568.
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.
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