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Demand has been healthy, inventories tight, and dealers have felt little pressure to lower prices.
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Wholesale used vehicle prices increased 5.84% month over month in July, bringing the Manheim Used Vehicle Value Index to 158 a 12.5% increase from a year ago and another record-high for the Index, which also occurred in June.
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According to Manheim, wholesale used vehicle prices increased 5.74% in the first 15 days of May compared to the month of April. New and used retail vehicle sales show substantial gains from March’s free fall.
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Now in the midst of the coronavirus crisis, pressure on residual values is predicted to increase lender’s credit losses as vehicle sales slow and unemployment rises. Now is the time for some creative online solutions.
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A 17.1 million total would match 2019’s total and mark the sixth year in a row that new-vehicle sales would top 17 million.
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As of Dec. 1, 2019, pickup truck values continued their downward trend a bit more steeply between November and December 2019 since a peak in June.
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Overall truck segment values declined 0.83% last week, compared to 0.99% the week before.
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Overall used vehicle values, and truck values in particular, were down month-over-month in October, according to Black Book’s latest Used Vehicle Retention Index.
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As of October 1, 2019, pickup truck values have remained relatively stable compared to the drop experienced in August 2019.
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The trucks and vans that topped J.D. Power's lists for 2019 Resale Value awards include the GMC Sierra 3500, Toyota Tundra, Toyota Tacoma, and Honda Odyssey minivan, the firm announced.
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