Tom Webb will retire on June 30 as Cox Automotive's chief economist, ending a more than four-decade career.
Manheim's Tom Webb believes the 0.3% year-over-year decrease could have been much worse considering the "sharply rising" supply of used units.
Wholesale prices fell for the third straight time in March, but Cox Automotive’s Tom Webb said the softening is no cause for alarm.
Used-vehicle prices in the United States declined slightly in the fourth quarter 2013, but they remained at historically high levels as consumer demand stayed strong, Manheim reports.
Wholesale prices continued to return to normal levels in the first half, which Manheim attributed to an improving employment picture and rising new-vehicle sales.
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