Wholesale Used-Vehicle Prices Continue to Rise
Wholesale used-vehicle prices in October continued to unseasonably rise, market analysis shows, as demand remains strong and automakers struggle to build new vehicles.
Cox Automotive’s Manheim Used Vehicle Value Index, which tracks vehicles sold at Manheim’s U.S. auctions, was up 38% in October compared with the same month in 2020. Manheim said some of that rise was due to seasonal adjustment, as there is typically above-average vehicle depreciation in October. Meanwhile, Cox Automotive estimated that total used-vehicle sales were down 10% year over year in October. It estimated that used retail supply was at 39 days at the end of the month; normal supply is 44 days. Wholesale supply was at 18 days; normal supply is 23 days.