Topics mentioned includes the state of the wholesale used-vehicle market; how an increase in employment will boost demand in the used-vehicle market; and sales activity at auctions starting to pick up.
Wholesale used vehicle prices increased 8.96% month-over-month in May 2020, bringing the Manheim Used Vehicle Value Index to 137%, which is 1.9% lower than it was at the same time in 2019.
The Automotive Fleet & Leasing Association (AFLA Canada) held a webinar on Thursday, May 7, 2020 on the Canadian fleet market titled "The Impact of the Recent Economic Downturn on Vehicle Depreciation: What Fleets Need to Know.”
Wholesale used vehicle prices increased 1.35% month-over-month in February, bringing the Manheim Used Vehicle Value Index to 143.5, which is 6.2% higher than it was at the same time in 2019.
Vehicle values held steady last week, as various luxury segments continued to see positive movement in their week-to-week wholesale values.
Overall car segment values decreased 0.11% last week, compared to a 0.04% gain the week before. Overall truck segment values decreased 0.03% last week, compared to 0.19% the week before.
Retail sales have been trending downward in recent years and that trend is expected to continue as the industry’s supply of gently-used off-lease vehicles continues to grow.
Overall car segment values declined 0.13% last week, compared to 0% the week before. Overall truck segment values decreased 0.28% last week, compared to 0.17% the week before.
A 17.1 million total would match 2019’s total and mark the sixth year in a row that new-vehicle sales would top 17 million.
Overall car segment values decreased 0.26% last week, compared to 0.68% the week before. Overall truck segment values decreased 0.44% last week, compared to 0.71% the week before.