Monday, February 8, 2010
Here's an update to a chart I've shown several times in the past. I note the huge rebound in the prices of used cars following the recession-induced collapse of late 2008. As Manheim notes, "on a mix, mileage and seasonally-adjusted basis ... the Manheim Used Vehicle Value Index was 117.6 for January, which represented a 15.6% increase from a year ago." This strongly suggests that consumers are getting back on their feet, and that inventories of unsold cars have returned to some measure of balance. More good news.
Posted by Scott Grannis at 5:20 PM