The used-car market is off to a solid start in 2015, as wholesale used vehicle prices in the first quarter rose 1.3 percent from a year ago, according to the Manheim Used Vehicle Value Index. But some segments are performing better than others. Which segments?
Trucks are up—no shock there—and compacts are down. SUVs are flat.
Given this boom in used, wholesale prices, predictably, are going up. In April, NADA used car analysts noted wholesale prices of used vehicles at auction climbing by 2.3 percent during the month of March. “There appears to be no letup in the demand for (used) cars from the data we’re seeing,” says Jonathan Banks of NADA. “While extreme winter weather created a pent-up demand situation in several markets helping the pricing figures rise, it appears the American buyer is ready to acquire a new set of wheels.” Plus, early spring is tax refund season, too, which may influence suddenly flush consumers to start shopping for a new ride. Is it time to fill your used inventory, and market it online? CarSoup.com can help! Send a note to firstname.lastname@example.org.