The Streak Continues as the Manheim Index Posts 3rd Consecutive Record High

Manheim

Wholesale used vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) increased 0.75% month-over-month in July. 

This brought the Manheim Used Vehicle Value Index to 130.3, which was a record high for the third consecutive month and a 2.6% increase from a year ago.

On a year-over-year basis, the mid-sized car category saw the largest decline (down 0.9%) in July, while pickups and vans saw gains greater than the overall market. Other car segments like compacts and luxury saw gains in July too.

Wholesale market values continue to show strength despite concerns that increasing off-lease maturities would result in a used vehicle supply glut and rapidly declining used car values.

Instead, used vehicle sales are growing, driven by double-digit year-over-year growth in sales of vehicles less than 4 years old.  Increased demand is absorbing the higher supply of newer vehicles.

New vehicle sales continue to slide relative to record sales in 2017.

To read more of the original article, go to Manheim.

The post The Streak Continues as the Manheim Index Posts 3rd Consecutive Record High appeared first on Fleet Management Weekly.

from Fleet Management Weekly http://ift.tt/2wokWGy




Sourced by Quik DMV - CADMV fleet registration services. Renew your registration online in only 10 minutes. No DMV visits, no lines, no phone mazes, and no appointments needed. Visit Quik, Click, Pay & Print your registration from home or any local print shop.