The declines are continuing to close out the second week of 2022 with majority of segments reporting drops in valuations.
RM Sotheby’s had a great year, reporting auction sales of $406 million and private party sales of $150 million, for a grand total of over $550 million.
The year is starting off with declines in many segments, but it remains to be seen if we reached the peak of increases before the holidays or if we will return to increasing values as the market prepares for spring.
Cox Automotive's Manheim Used Vehicle Value Index rose 1.6% in December compared with November.
The seasonally adjusted Retention Index increased to 195.7 points.
2021 was a wild ride, but according to Black Book, the final two weeks of the year reported minimal declines in values after a year of record-breaking increases.
Winter and Christmas sales events make for a busy end of year for dealers, but the last two weeks of the year are traditionally slow for the auctions and that held true this year.
As calendar year 2021 comes to a close, wholesale prices continue to rise, and noticeable differences can be seen compared to prior calendar years.
The seasonally adjusted Retention Index increased to 189.9 points, reaching another record.
Values aren’t showing any signs of slowing down, with most expecting this strength to last through the traditional Spring selling season.
Calendar year 2021 has not had typical seasonality patterns as the market has had rapid increases in wholesale values for the majority of the year.
We have now had ten consecutive weeks of wholesale value increases, during a time that traditionally experiences large week-over-week declines.
For the second time in as many months, one of the major RV market segments has declined in value, but this time it was the towables, which fell for the first time in almost a year, while motorhomes reversed course and increased, coming in at their second highest value ever.
The fourth quarter is traditionally when the market experiences most of the yearly depreciation, but after just one month in the quarter, values are reporting appreciation of more than 3.0%.
The lack of new inventory is continuing to drive up the demand for used vehicles, which in turn is forcing buyers to pay more week after week and leaving sellers wishing they had more to offer.
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