Used Wholesale Car Prices Continue Fall
October reflects multimonth decline.
Cox’s index was down 10.6% year-over-year, adjusted for seasonality, mix and mileage, while Black Book’s was off 3.3%.
IMAGE: Getty Images/Keith Lance
Two used-wholesale vehicle indicators show a drop in prices in October, continuing a multimonth decline that started as spring gave way to summer.
Cox Automotive’s Manheim Used Vehicle Value Index decreased 2.2%, while Black Book’s Used Vehicle Retention Index fell 1.2%, indicating ongoing drops in wholesale used-vehicle market values.
Cox’s index was down 10.6% year-over-year, adjusted for seasonality, mix and mileage, while Black Book’s was off 3.3%.
Cox’s nonadjusted price change was 2.1% from September, for a 12-month drop of 9.3%. Black Book’s index is adjusted for seasonality, vehicle age, mileage, condition and inflation. It tracks percent retention from original MSRP of a typical 4-year-old vehicle in the market.
Used-retail prices decreased 9% from September and 13% from a year earlier, Cox said.
READ MORE: Wholesale Used Vehicle Prices Rise 48.1% in 2 Years
Originally posted on Auto Dealer Today
More F&I
AI: Facilitator, Not Fixer, in F&I
The dealerships that thrive in the years ahead will be those that embrace technology while continuing to invest in the people who make customer interactions count.
Read More →
Modern Technology Objection Handling
In this video, Trent White shares how to confidently handle technology-based objections by helping customers understand the value of protection, even with modern vehicle technology.
Read More →
Consistency at Scale: Driving F&I Performance
With 75 rooftops across the Sunshine State, Morgan Auto Group has proven to Floridians that it knows a thing or two about driving performance in a competitive market. But it didn’t start at the top.
Read More →
Gitty Up on GAP
The foundational finance-and-insurance product hasn’t kept up with the latest conditions for auto dealers. Is the time ripe?
Read More →
How AI-Powered Coaching Is Transforming F&I Performance
See how AI-powered coaching can turn F&I customer conversations into actionable insights that support compliance, performance and profitability
Read More →
Sell Value, Build Trust
In this video, Trent White explains why selling on value, not fear, builds lasting customer trust, reduces cancellations, and drives long-term success.
Read More →
F&I Sales Give Dealers First-Half Lift
Product business shored up total profits to avoid an overall revenue tanking as product penetrations held steady, StoneEagle reported.
Read More →
Targeted Training Drives Results
Today’s technology, instead of threatening F&I managers, can actually make them better, according to an industry veteran who’s watched market setbacks roil the unprepared.
Read More →
Double the Change, Double the Chance
When an F&I manager gets a customer refusal, it’s a wise move to tweak more than one thing in the product offering.
Read More →
Just Do It
F&I managers need training, but instead of resisting application or expecting perfection, they should improve by simply acting on what they learn.
Read More →