The October Manheim Index is in keeping with a long trend of declines – that month’s drop makes it 26 months in a row the Manheim Index falls below the same month a year earlier. Analysts say declining used values reflect a gradual increase in new- and used-vehicle supply, as well as an increase in new-vehicle incentives. However, dealers with major, publicly traded chains complain that used-vehicle values are still too high. Fewer off-lease vehicles mean fewer late-model used vehicles are hitting the market. “Until the pool of used vehicles gets back to more historical levels, we will prioritize unit profitability over chasing volume,” Clara says.

Source: Forbes November 08, 2024 17:34 UTC