Used car prices continue to rise at record levels. The latest spike pushed used-car prices to 24.9% above September 2020 and a whopping 41.9% above March 2020 levels, according to Manheim's Used Vehicle Index. However, over the last few weeks, something peculiar has been detected.
According to Manheim's index, wholesale prices rose 3.6% in the first 15 days of September over August prices. And coming into October, wholesale values increased 1.5% over the last few weeks on a week-over-week basis,
Retail prices, however, have increased only two-tenths to three-tenths of 1 percent on a week over week basis. And in the final week of September, retail prices barely moved at all, increasing a meager one-tenth of 1 percent.
As observed by Dale Pollak from vAuto, this presents a “curious moment” in the used vehicle market. When wholesale and retail prices move in the same direction, the rate of increase or decrease tends to be similar. But today, wholesale values are rising at a significantly faster rate than retail prices, even when you account for differences in specific vehicle segments, which raises two critical questions:
What’s causing the disparity in appreciation rates? And, what does it mean for dealers?
This is where we pick up in this month’s episode of the Acquisition Council, our live monthly webcast focused on the used car market and consumer vehicle acquisition.
The Acquisition Council
Airs Live on Tuesday October 19th at 11:00 AM Central Time (US & Canada)
11:05. Featured Guest Interview
11:15. Interview w/ VAN Performance Manager
11:25. Panel Discussion
11:45. Wrap Up
Guests & Panelists
- Featured Guest Interview: Ryan Easter, General Manager from Bob Jass Chevrolet in Geneva, Illinois.
- VAN Performance Manager Ryan Quick
- Panel Discussion w/ Joe Webb from DealerKnows, Nancy Scoggins from Murdock Chevrolet, and VAN Co-Founder Bill Anderson.
Joe Webb also is the comedy film producer who wrote and directed our humorous webisode series - The Auction.
The Acquisition Council - Live Stream for Used Car Managers and Buyers
The Acquisition Council is a live show we just began facilitating this month. It is streamed live on YouTube and open to the public for viewing, typically on the last Wednesday of every month.
For more information about the show, see, Introducing the Acquisition Council by VAN and VehicleHero.com.
Sign Up Free in the Learning Center
The live show is an extension of our Learning Center where our commitment to provide the “best communication tools and methods available to assist our Dealer Partners in acquiring pre-owned inventory direct from private sellers” begins.
In the Learning Center you have access to all the great tips, strategies, and best practices, mostly in video and blog form that we have assembled over the years to help make your job easier and more productive.
To get involved with the Acquisition Council, head over to the Learning Center and sign up. Whether you just want to tune in once in a while and watch, or come onto the virtual stage and be part of the live event, get yourself signed up in the Learning Center to get started.
By signing up free in the Learning Center you will…
- Receive exclusive inside information about the live show
- Receive free access to our growing library of video tips, strategies, and best practices
Alternatively you can subscribe to our YouTube channel here and be notified of when we schedule new live events, and upload new videos, too, of course.