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Tuesday, February 07, 2023

Wholesale Used Car Prices Increased in January, Down 12.8% Year-over-year

by Calculated Risk on 2/07/2023 09:37:00 AM

From Manheim Consulting today: Wholesale Used-Vehicle Prices Increase in January

Wholesale used-vehicle prices (on a mix, mileage, and seasonally adjusted basis) increased 2.5% in January compared to December. The Manheim Used Vehicle Value Index (MUVVI) rose to 224.8, down 12.8% from a year ago. January’s increase was driven in part by the seasonal adjustment. The non-adjusted price change in January was an increase of 1.5% compared to December, moving the unadjusted average price down 11.0% 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 increased in January (seasonally adjusted) and were down 12.8% year-over-year (YoY).  

It is likely this index will be down further YoY in early 2023.