Used autos $pike 6%

Auto auction firm Manheim said on Friday its used vehicle value index rose 6.3 percent in September, hitting a fresh record high, boosted by the active hurricane season.

The Atlanta-based firm’s used vehicle value index — a measure of wholesale prices adjusted for mix, mileage and season — was 134.9 in September, a record high for the fifth consecutive month.

“While growing retail demand is strong, most of the pricing strength can be directly attributed to the recovery following Hurricanes Harvey and Irma,” Jonathan Smoke, chief economist for Cox Automotive, parent company of Manheim, said.

Wholesale used vehicle prices increased 2.8 percent last month from August, according to Manheim.