by Calculated Risk on 3/07/2023 09:20:00 AM
From Manheim Consulting today: Wholesale Used-Vehicle Prices See Large Increase in February
Wholesale used-vehicle prices (on a mix, mileage, and seasonally adjusted basis) increased 4.3% in February from January. This was the largest increase for the full month of February since 2009’s 4.4% rise. The Manheim Used Vehicle Value Index (MUVVI) rose to 234.5, down 7.0% from a year ago. February’s increase was driven partially by the seasonal adjustment. The non-adjusted price change in February was an increase of 3.7% compared to January, moving the unadjusted average price down 5.6% year over year.emphasis added
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 February (seasonally adjusted) and were down 7.0% year-over-year (YoY).