Cox Automotive Chief Economist Tom Webb published Manheim’s Used Vehicle Value Index results for July.
Here are a few highlights:
- Wholesale used vehicle prices increased in July for the fourth consecutive month. That brought the Manheim Used Vehicle Value Index to a reading of 127.0 for July, an increase of 2.3% from a year ago.
- The SAAR for new vehicle sales was 17.8 million in July, which is up considerably from June’s 16.6 million pace and the first half rate of 17.1 million.
- Total used retail unit volumes increased 5% in the first six months of 2016, with franchised dealers up 4% and independents up 7%
- All of the strength in wholesale pricing over the past year remains concentrated in pickups, mid- and full-size SUVs, and certain sports cars while all other market classes are flat to down.
- Although compact cars remained the weakest segment of all the major market classes over the past year, compact car pricing over the past three months outperformed the overall market
The post Manheim’s Used Vehicle Value Index appeared first on Fleet Management Weekly.
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