The Manheim Used Vehicle Index is one widely watched measure, and it just made a new all time high for data from July 2018 auction results.
The numbers and some historical perspective:
Wholesale (the index tracks dealer-only auction results) prices for used cars/trucks were +1.5% from June to July 2018 and +5.1% versus July 2017.
More affordable vehicles saw the largest price increases, with compact and midsized cars outperforming the overall market. This is unusual; for the last several years it has been hotter-selling SUVs and pickup trucks that have led used vehicle prices higher.
Cox Automotive (which owns the Manheim auction business) notes that the overall used vehicle market (both dealer and private sales) is currently robust, with a July 2018 selling rate of 39.2 million vehicles, +3% over last year and at +5 year highs. For comparison, July 2018 new vehicle sales were flat versus last year.
2 comments:
Let me think, Cash for Clunkers?? Do you think that may be a factor in the vacuum on people wanting used cars because past ones were destroyed. Thank you Obama
9:06 Those cars were 10+ years old when that program was implemented. They would be 18+ years old now with 200k+ miles. There is not much of a market for vehicles that old. Manheim vehicles are 2-5 years old and mostly off lease vehicles.
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