With the help of industry experts, Automotive Fleet takes a look at the current state of the used-vehicle market and what the near future may hold.
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 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.
According to Manheim, wholesale used vehicle prices increased 5.74% in the first 15 days of May compared to the month of April. New and used retail vehicle sales show substantial gains from March’s free fall.
The outlook for the 2020 used market is positive, at least according to three remarketers from three fleet management companies.
The passenger car segment was a main contributor to the the rise in used-vehicle prices in 2018.
The average 12-month depreciation through the end of November for all vehicles was 12.5%.
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.
The Mercedes-Benz C-Class topped a list of the most recalled cars in recent model years, while the Hyundai Accent was the least-recalled vehicle during the same period, according to a report on ISeeCars.com.
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.
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