Uptick in used-vehicle values push February SAAR
Used-vehicle values are continuing to increase as wholesale used-vehicle prices bumped up 1.35% in February, bringing the Manheim Used Vehicle Value Index up to 143.5 — a 6.2% increase year over year, the company reported today.
In fact, a YoY increase in vehicle sales volume will likely have the February used-retail SAAR clock in at 21.2 million, up from 19.8 million last year, and up month over month from January’s 20.7 million rate. Total used-vehicle sales volume was up 4.4% YoY in February.
As for new vehicles, last month’s total new-vehicle sales were up 8.4% YoY, with one more selling day given the leap year. The February new-vehicle SAAR came in at 16.8 million, an increase from last year’s 16.5 million and down from January’s 16.9 million rate.
New vehicle inventories came in at under 3.6 million units.
