6th Monthly Increase in Used Vehicle Price Index; June Jump Is Largest Monthly Increase On Record
From a previous Manheim Consulting report:
Some analysts have suggested that the rapid rise in wholesale used vehicle pricing is a precursor to an improvement in new vehicle sales and may even point to a recovery in the overall economy.
MP: The 5-point June increase in the Manheim used vehicle value index was the largest single monthly increase in the history of the index back to 1995, and marked the sixth consecutive monthly increase (every month this year), following decreases in 10 out of the previous 14 months (from October 2007 to December 2008).
The year-to-year increases in both May and June follow 17 consecutive months of consecutive year-to-year decreases (Nov. 2007 to April 2009).