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Monday, November 07, 2022

Wholesale Used Car Prices Declined in October; Prices Down 10.6% Year-over-year

by Calculated Risk on 11/07/2022 09:12:00 AM

From Manheim Consulting today: Wholesale Used-Vehicle Prices See Smaller Decline in October

Wholesale used-vehicle prices (on a mix, mileage, and seasonally adjusted basis) decreased 2.2% in October from September. The Manheim Used Vehicle Value Index declined to 200.0 and is now down 10.6% from a year ago. The non-adjusted price change in October was a decline of 2.1% compared to September, moving the unadjusted average price down 9.3% year over year.
emphasis added
Manheim Used Vehicle Value Index Click on graph for larger image.

This index from Manheim Consulting is based on all completed sales transactions at Manheim’s U.S. auctions.

The Manheim index suggests used car prices decreased in October and were down 10.6% year-over-year (YoY).  

This also suggests the consumer price index for used cars and trucks will be down again in October.

It is likely this index will be down more than 15% YoY in November.