Used-vehicle sales volume is expected to plateau over the next two years, according to Manheim’s Wholesale Market Insights report released today.
Volume is expected to drop to 39.2 million units by yearend 2019 — from 39.4 million last year — and then fall to 39 million in 2020, Manheim predicted.
Used-car sales volume in June dropped 3% year over year, falling to a pace of 39.8 million units. The report notes, however, that June 2018 posted unseasonably high sales volume due to an increase in consumer demand fueled by tariff fears and rising interest rates.
Following new-car prices, used-vehicle prices for June were up 4.1% year over year. In fact, Manheim’s report shows that all major segments saw a year-over-year price increase in June, with midsize cars and pickup trucks leading the charge with increases of 4.8% and 5.3%, respectively. Luxury vehicles also saw an uptick in price, despite a slow start in the first five months of the year.