Manheim Index stretches record-setting streak to 6
Wednesday November 8, 2017
Article Highlights
- Cox Automotive reported this week that wholesale used vehicle prices (on a mix-, mileage- and seasonally adjusted basis) increased 1.02 percent month-over-month in October.
- This rise pushed the index reading to 136.3, which was a record high for the sixth consecutive month and an 8.1-percent increase from a year ago.
- On a year-over-year basis, all major market segments again saw gains, including midsize cars. SUVs/CUVs, pickups and vans, which outperformed the overall market with increases of 8.8 percent, 11.7 percent and 9.2 percent, respectively.
Make it six months in a row that the Manheim Used Vehicle Value Index has set a new record high.
Cox Automotive reported this week that wholesale used vehicle prices (on a mix-, mileage- and seasonally adjusted basis) increased 1.02 percent month-over-month in October. This rise pushed the index reading to 136.3, which was a record high for the sixth consecutive month and an 8.1-percent increase from a year ago.
On a year-over-year basis, all major market segments again saw gains, including midsize cars. SUVs/CUVs, pickups and vans, which outperformed the overall market with increases of 8.8 percent, 11.7 percent and 9.2 percent, respectively.
“Though wholesale market values continue to show strength as a result of growing retail demand, most of this price strength can be attributed to the recovery following Hurricane Harvey and Hurricane Irma,” Cox Automotive chief economist Jonathan Smoke said in commentary that accompanied the index update.