Used Car Auction Prices Slip To Start Year
Used Car Auction Prices started declining last fall. Kelly Blue Book reported that auction prices fell 6.8%, or $1,146 per unit, in the fourth quarter. And used car auction prices values are following that downward trend to start the year.
The Manhiem Used Vehicle Value Index came in at124.8 in January, a 0.3 percent decline from January 2016.
Retail demand still remains strong. Edmunds.com reports 3.1 million used vehicles were sold in January, up from 2.6 million in Dec. Off-lease volumes continue to climb with another 3 million units to return this year.
The divide between trucks and cars remains strong. According to Manheim 2017 started the same as all of 2016, with trucks and crossovers up and cars down. The one risk to truck prices comes from fuel prices as fuel prices increase, demand for trucks continue to decline.