July 14, 2024
News

Auto Finance News reports an 8.9% decrease in used-vehicle values

Bulk pre-owned car prices experienced a decrease both month over month and year over year in June as sales surpassed the levels of the previous year. The Manheim Pre-Owned Vehicle Value Index dropped to 196.1 in June, marking a 0.6% decline on a monthly basis and an 8.9% decrease compared to the same time last year, as reported by Cox Automotive. Pre-owned vehicle prices have now decreased for the third consecutive month.

FAQ

Q: What factors contributed to the decline in wholesale used-vehicle values?

A: The decline in wholesale used-vehicle values can be attributed to increased sales outpacing volumes from the previous year, leading to a drop in prices.

Conclusion

In conclusion, the wholesale used-vehicle market experienced a decline in values in June, with prices decreasing for the third consecutive month. This trend was driven by higher sales volumes compared to the previous year, resulting in a decrease in prices. It will be important to monitor market trends and volumes in the coming months to understand the future direction of pre-owned vehicle prices.

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