Used-vehicle prices at wholesale, dealer-only auctions ended 2021 at 48.1% higher on average than December 2019 and 34.8% higher than December 2020, according to KAR Global.
Wholesale values continued to see little change last week, although demand for sporty cars appears to be dwindling as the average value of that segment has begun to drop.
With the spring selling season now in the rearview mirror, the car segment broke its two-month streak last week of rising wholesale values. Only full-size and sporty cars realized higher wholesale values through the week.
Post-hurricane demand pushed up the firm's index 1.02% from the month prior and 8.1% from a year ago to 136.6
Wholesale prices of used vehicles up to eight years in age fell by 1.2% in August. Over the past five years, however, losses for the period averaged a more significant 2.2%.
The 2.2% decline in wholesale prices of vehicles up to eight years in age was right in line with average losses recorded for the month over the past five years, J.D. Power Valuation Services reported this week. However, the firm’s Seasonally Adjusted Used Vehicle Price Index was significantly lower than a year ago.
The partnership integrates open sale inventory listed on manufacturers’ digital sales platforms powered by RMS Automotive into vAuto’s Stockwave tool, providing dealers with access to pre-auction inventory while helping manufacturers increase exposure of their inventory.
It was the second consecutive month that Manheim Used Vehicle Value Index reached a record high. Officials said strong retail demand for recent model-year used vehicles is encouraging dealers to buy more vehicles at auction, and the increased demand is more than offsetting the high supply.
Average wholesale used-vehicle prices reached $11,141 in April, a 2.2% increase from March and a 2.5% increase from a year ago, Tom Kontos reported. The only three segments registering declines were compact, mid-size, and luxury cars.
Both cars and trucks realized a healthy seasonal boost in wholesale performance last week, with both segments retaining their values better than they have in the past six months.
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