Special Report Follow Up: Used Car Prices


Special Report - Auction Prices
Image Credit: Vlad Kochelaevskiy/Shutterstock.com
Following up on last weekís special report about the used car bubble bursting, I thought I would bring you up to speed on what happened this week at the Manheim Dallas Auction on Wednesday, September 2nd.

I just finished watching the same auction as I reported on last week. This week, more vehicles brought closer than the Manheim Market Report guide (MMR). However, you have to factor in the fact that last weekís bloodbath lowered the MMR pricing.

Toyotaís continue to struggle versus MMR, but they were the most overpriced in the past couple of months. Tacomas and Tundras that two weeks ago were bringing $5000 over MMR, are bringing under MMR for the second week in a row.

Other typical vehicles that usually bring way over MMR were off again this week. Great examples are Subaru, Jeep Wranglers, and Chevy Suburbans.

Vehicles that sold Wednesday that caught my attention were:
Year/Model Mileage MMR Amount Sale Amount
2017 Hyundai Tucson 30,000 $14,350 $12,600
2017 Honda Civic Sport 28,000 $21,300 $19,250
2019 Subaru Forester 8,667 $30,000 $29,250
2018 Toyota Corolla 29,000 $14,000 $13,000
2019 Tacoma SR5 14,000 $31,700 $28,750
2018 Tundra Crew Cab 17,900 $42,100 $40,000
2017 Lexus ES V6 29,000 $26,700 $24,750
2018 Mustang Conv. 45,000 $19,550 $17,250
2017 Shelby GT350 5,917 $51,000 $49,250
2014 Wrangler 69,450 $23,500 $19,000
2020 Jeep Gladiator 14,000 $48,900 $44,750
2016 Chevy Suburban 47,000 $40,000 $35,250


VIDEO EXAMPLES

I donít completely understand it but used Teslas continue to bring big money. Watch as this 2018 Model 3 with a $42,700 MMR sells for $47,750:



2020 CORVETTES

Iíve been amazed at what used 2020 Corvettes have been bringing lately at the auction. In the video below, youíll see three used 2020 Corvettes sell. While they are still bringing well over the original MSRP, they are falling short of the MMR guide pricing.

WARNING: The seller is an animated guy, so
**LANGUAGE WARNING**

Related Articles
Porsche
Porsche Expands Subscription Service In California
Iíve talked on the Car Pro radio show about being part of a subscription service in DFW through a local dealership group. The service is called Avondale Select and so far Iíve flipped from a Mercedes... More ›
Special
Special Report: The Used Car Bubble Is Bursting
Iíve talked on the Car Pro Show for eight weeks about used car prices being sky high. I monitor the Manheim Dallas auction weekly so I can report to my listeners up-to-date information about trade va... More ›
Itís
Itís Here Again! The Last Weekend Of The Month
Youíve heard me talk about the incredible factory incentives that were initiated because of the Coronavirus, yet you still havenít looked at numbers with a Car Pro Certified Dealer? If this is you, y... More ›
DFW:
DFW: See The All-New 2021 Ford F-150
One of the most anticipated vehicles of 2021 is the all-new 2021 Ford F-150. Thanks to Five Star Ford in Dallas, youíll have a chance to see it up close and personal this Friday, August 21st.

... More ›
There haven't been any comments left on this blog yet. Be the first to add one!.