Strong December Boosts Manheim Index

By Staff Writer January 10, 2020

Wholesale used vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) increased 1.54 percent month over month in December, according to Jonathan Smoke, Manheim chief economist.

This brought the Manheim Used Vehicle Value Index to 141.1, a 2.5 percent increase from a year ago. Following a normalizing trend in weekly Manheim Market Report prices at the end of November, December saw stability and even gains in many segments, Cox Automotive reported.

“Used vehicle values ended the year with an increase, as the pace of retail used sales grew both month over month and year over year,” Smoke said. “The strong December pace contributed to a 2.6 percent increase for used retail sales in 2019 helping offset the weakness in new retail sales. Payment affordability challenges in new grew demand for used. New retail sales declined by 4 percent in 2019, but total new light vehicle sales still came in above 17 million - but just barely - according to our Kelley Blue Book team. The key reason the new market managed to hit 17 million was another year of increased fleet sales.”

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Last modified on Thursday, 16 January 2020 14:17

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