Manheim Index Hits Three-Year Low

By Staff Writer May 08, 2020

Manheim reported wholesale used vehicle prices (on a mix, mileage, and seasonally adjusted basis) decreased 11.41 percent month-over-month in April. This brought the Manheim Used Vehicle Value Index to 125.8, a 9.2 percent decrease from a year ago, and the lowest level in three years.

According to Cox Automotive estimates, total used vehicle sales volume was down 34.3 percent year-over-year in April. Cox estimates the April used SAAR to be 27.0 million, down from 39.3 million last April and down from March’s 32.0 million rate. The April used retail SAAR estimate is 14.4 million, down from 21.4 million last year and down month-over-month from March’s 17.3 million rate. 

Manheim Used Vehicle Value Index April 2020
         Manheim Used Vehicle Value Index : April 2020

 

Wholesale prices are stabilizing as the excess supply of used vehicles comes down, Cox reported. A rolling 7-day estimate of used retail days’ supply based on vAuto data, shows that used retail supply peaked at 115 days on April 8th. Normal used retail supply is about 44 days’ supply. It ended April at 53 days. Cox estimates that wholesale supply peaked at 149 days on April 9th when normal supply is 23. It was down to 65 days by month end.

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Last modified on Monday, 11 May 2020 14:12

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