The Wholesale Market Insights report recently released as part of the Manheim Used Vehicle Index showed a 1.54-percent month-over-month gain in wholesale used vehicle prices for December 2019, with a 2.5-percent gain from December 2018.
Looking at a year-over-year comparison, SUV/CUVs, midsize and luxury cars had a seasonally adjusted wholesale price increase in December. Midsize cars outperformed the overall market in December.
"Used-vehicle values ended the year with an increase, as the pace of retail used sales grew both month over month and year over year," Jonathan Smoke, chief economist, Cox Automotive, said in a press release. "The strong December pace contributed to a 2.6-percent increase for used retail sales in 2019, helping offset the weakness in new retail sales. Payment affordability challenges in new grew demand for used. New retail sales declined by 4 percent in 2019, but total new light vehicle sales still came in above 17 million — but just barely — according to our Kelley Blue Book team. The key reason the new market managed to hit 17 million was another year of increased fleet sales."