Wholesale Used-Vehicle Prices Reflect Spring Bounce By Increasing in April

Wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) increased 1.81% month-over-month in April. This brought the Manheim Used Vehicle Value Index to 138.4, a 4.5% increase from a year ago. On a year-over-year basis, most major market segments saw seasonally adjusted price gains in April. Midsize cars and pickups outperformed the overall market, while all other major segments underperformed the overall market.Looking at trends in weekly Manheim Market Report (MMR) prices, April began with the traditional spring bounce continuing in appreciating values. Three-year-old vehicle values in aggregate saw gains in the first two weeks of April, which pushed prices higher than the beginning of the year. The month ended with aggregate prices stable but non-luxury prices continuing to see gains.

The average price for rental risk units sold at auction in April was up 2% year-over-year. Rental risk prices were up 5% compared to March. Average mileage for rental risk units in April (at 45,000 miles) was up 3.5% compared to a year ago and down 1% month-over-month.

For more details, read the full commentary on the April Manheim Used Vehicle Value Index here.