Manheim’s September used-vehicle value index maintained its trajectory from mid-month, falling to 161.2, a 1.58% decrease from August. Still, the index is up 15.2% year over year, following three straight months of record values.
All segments saw seasonally adjusted price increases, with luxury vehicles and pickup trucks outperforming the overall market. Used retail seasonally adjusted annual rate (SAAR) in September was estimated at 20.2 million units, down from 20.7 million units in the same reporting period last year and nearly flat from August’s 20.3 million units.
Used-vehicle supply continues to be squeezed, with days’ supply clocking in at 42 days, down from the industry norm of 44 days. Used inventory peaked in April at 115 days. Wholesale inventory came in at 26 days, up from the normal 23 days’ supply.
New-vehicle inventory came in at 2.6 million units and continues to be a point of concern for the industry.
Auto Finance Summit, the premier industry event, returns October 20-22, 2020, as a virtual experience. The virtual experience will offer the quality networking and education of past events, all through an online platform. To learn more about the 2020 event and register, visit www.AutoFinanceSummit.com.
