In Depth Analysis: CalculatedRisk Newsletter on Real Estate (Ad Free) Read it here.

Wednesday, December 07, 2022

Wholesale Used Car Prices Declined Slightly in November; Prices Down 14.2% Year-over-year

by Calculated Risk on 12/07/2022 09:15:00 AM

From Manheim Consulting today: Wholesale Used-Vehicle Prices See Minimal Decline in November

Wholesale used-vehicle prices (on a mix, mileage, and seasonally adjusted basis) decreased 0.3% in November from October. The Manheim Used Vehicle Value Index (MUVVI) declined to 199.4, down 14.2% from a year ago. This is the first time the MUVVI has dropped below 200.0 since August 2021. The non-adjusted price change in November was a decline of 1.6% compared to October, moving the unadjusted average price down 12.4% 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 November and were down 14.2% year-over-year (YoY).  

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

It is likely this index will be down further YoY in December.