Manheim Used Vehicle Value Index Hits Record High in May

Manheim Consulting’s monthly auto industry brief reported May 2011 reported wholesale used vehicle prices hit a record high for the month. The Manheim Used Vehicle Value Index in May jumped 5.6% compared to a year-ago (up to 127.8 in May 2011, compared with 121.0 in May 2010) Compared with last month April, the Manheim Used Vehicle Index was up 1.2%.
Manheim said this record high can be attributed to the limited vehicle inventories and higher transaction prices of new vehicles in the market.
According to Manheim, the auction prices for compact cars has increased dramatically in May, with a 20% increase from prices a year ago.
The market classes that showed the lowest year-over-year price change for the month of May, according to Manheim, was the SUV/CUV segment, which had prices decrease 5.8% from a year ago.

Click here to read more of Manheim Consulting’s monthly auto industry brief reported May 2011