Only three of eight major market segments saw seasonally adjusted prices that were higher year over year in September. The full-year Manheim Used Vehicle Value Index forecast is expected to finish the year down nearly 14% YOY, up from the second quarter’s revised forecast of a 6% decline.
Sales into commercial fleets were up 37% and sales into government fleets were up 28% last month compared to August 2021.
Sales into commercial fleets were up 19% year over year, and sales into government fleets were up 31%, but rental were down 7%.
Combined sales into large rental, commercial, and government buyers were down 30% year over year in February.
But volume for rental, commercial, and government vehicle purchases is still well below levels seen in the pre-pandemic year of 2019.
August figures show sales into rental increased 118% year over year in August and are up 7% compared to the same time period last year.
Large rental, commercial, and government purchases of new vehicles increased 6% compared to this time in 2020, but decreased by 40% from the same time in 2019.
Fleet sales decreased month over month but rose steeply year over year. Sales into rental rocketed 531% year over year.
Today's video looks at an overview of commercial fleet sales for the month of October; fleet depreciation trends in the wholesale market; and unintended consequences of extending vehicle service lives and the supplemental cost increases.
Total fleet sales for the month — which is comprised of commercial, rental, and government sales — came in at 101,159, which represented a 51% drop from the same time last year.
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