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The J.D. Power Valuation Services Used Vehicle Price Index reached an all-time high in November.
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The index's April reading was 124.7, a year-over-year improvement thanks to the 0.5% increase in wholesale used-vehicle prices. Manheim officials said any weakness is more a result of excessive new-vehicle inventory, with more than four million new units sitting on dealer lots for the last three months.
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Tom Webb will retire on June 30, ending a more than four-decade career. Cox Automotive officials said a replacement will be named in the coming weeks.
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Tom Webb will retire on June 30 as Cox Automotive's chief economist, ending a more than four-decade career.
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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.
Read More →Wholesale used-vehicle prices declined 0.7% in October, according to Manheim. Non-seasonally adjusted prices declined 2%, with the Manheim Used Vehicle Value Index increasing 0.6% from a year ago to 126.0.
Read More →For the second time this year, the seasonally adjusted annual rate (SAAR) for new vehicles fell below 17 million in August. Manheim, however, said the drop 'may be a good thing."
Read More →Wholesale used-vehicle prices increased again in May, suggesting dealers have continued to achieve efficiency gains that allow them to bid-up auction prices even as gross margins narrow, according to Manheim’s Used Vehicle Value Index.
Read More →Wholesale prices fell for the third straight time in March, but Cox Automotive’s Tom Webb said the softening is no cause for alarm.
Read More →Used-vehicle prices were up nearly 3% in the third quarter from a year ago, according to Manheim’s Used Vehicle Value Index, a measure of wholesale prices adjusted for mix, mileage and season.
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