Reports show that wholesale used car prices climbed to an all-time high in September even though dealership inventories have historically low inventory given the high demand for second-hand cars in the supply chain.
The Manheim U.S. Used Vehicle Value Index showed that the month-over-month in September increased by 5.3 percent in September, which is the highest rise since April. Over the last year, the index increased by 27.1 percent to 204.8.
Manheim reported that “Over the full four weeks in the month, the Three-Year-Old Index increased a net 4.6 percent,” noting that the market prices were ahead of the Manheim values.
The report also showed that all major markets saw seasonal “adjusted price increases” for September in the year-over-year look. Vans and sport utility vehicles had the