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Strong September CPO Car Sales, Manheim’s September Report and Dealers Survey What’s Left After Hurricane Michael

September CPO Car Sales Show Some Strength (Auto Remarketing)

A sampling of results shared by automakers in news releases or via email shows a mostly positive September for the certified pre-owned car market.

Kia, for example, said it sold 6,201 certified vehicles in September, up from 5,777 a year ago.

Volvo, meanwhile, said it increased its CPO sales by 35.5 percent year-over-year, moving 1,970 CPO units last month. Its year-to-date sales are up 18.1 percent at 16,375.

Mazda lifted its CPO sales 29.7 percent in September (4,642 cars sold) and has driven sales up 21.3 percent so far this year.

Porsche reported 1,826 certified sales last month for an 18-percent gain.

Mercedes-Benz lifted its CPO sales 17.8 percent, moving 10,274 units last month. Through nine months, it has reached 95,569 certified sales (up 9.0 percent).

Read the full story here.

Used Vehicle Values Set New Record for Third Straight Month (Cox / Manheim)

Wholesale used vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) increased 0.14 percent month-over-month in September. This brought the Manheim Used Vehicle Value Index to 139.9, which was a 3.7 percent increase from a year ago and a new record high for the Index.

Looking at trends in weekly Manheim Market Report (MMR) prices, the abnormal summer bounce that started in June ended after 11 straight weeks of price appreciation. September saw several continued weeks of normalizing depreciation. Even after that normalization, 3-year-old vehicles are now worth 4.5 percent more than they would normally be worth had typical depreciation occurred instead of the appreciation observed this year.

On a year-over-year basis, all major market segments saw price gains in September; but more affordable vehicles are seeing the greatest increases in values. Compact cars and midsize cars outperformed the overall market, while vans, utility vehicles, and pickups underperformed the overall market.

Read the full story here.

Dealers collect what’s left following Hurricane Michael (Auto News)

In an unrecognizable landscape of devastation and destruction left in Hurricane Michael’s path, dealerships in Florida and Georgia continue to collect what remains underneath the wreckage caused by the Category 4 storm.

Five days after the storm packed maximum sustained winds of 155 mph, several dealerships in the Panhandle of Florida and in Georgia remained closed, some suffering significant damage. Nissan, Ford and Honda reported at least some of their dealerships across the two states are without power. Some stores have lost inventory.

John Lee owns John Lee Nissan, John Lee’s Panama City Mazda and a used-vehicle store in Panama City, Fla., that were all damaged.

Read the full story here.

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