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Used Car And Truck Prices Were Up In March

In March 2014 wholesale used vehicle prices increase over 3 percent according to the Manheim used vehicle index, an index comparable to the Kelly Blue book used by auto rental companies and other industry concerns as a benchmark for wholesale, retail and auctioning of used vehicles.

New car and truck prices bounce back as well after a brutal winter. Certified pre-owned vehicle sales increase 10.9 percent in the first quarter of 2014.

Most of these sales come from late model used vehicles irrespective of concerns about over supply of new vehicles.

The highest increase was experienced in the light trucks / pickups category with an increase of 9.8 percent. Compact cars and luxury vehicles saw the lowest sales with -0.1 and 0.6 percent respectively.

Over 16.4 million seasonally adjusted units were sold in March which was a joyous surprise to most industry observers. Sales were unbowed by the massive recall from Toyota, GM and other manufacturers.

Rental vehicles companies like Enterprise, Hertz and Avis purchase over 500,000 new vehicles in the first quarter of 2014. Average vehicle sold at the auction, primarily from rental companies had mileage a little over 40,000.

Used car prices are up despite the uptick in gas prices which currently girates about $3.60 a gallon.

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