by Calculated Risk on 6/07/2024 04:45:00 PM
Friday, June 07, 2024
Wholesale Used Car Prices Declined in May; Down 12.1% Year-over-year
From Manheim Consulting today: Wholesale Used-Vehicle Prices Declined in May
Wholesale used-vehicle prices (on a mix, mileage, and seasonally adjusted basis) were down in May compared to April. The Manheim Used Vehicle Value Index (MUVVI) fell to 197.3, a decline of 12.1% from a year ago. The seasonal adjustment to the index reduced the impact on the month, resulting in values that declined 0.6% month over month. The non-adjusted price in May decreased by 1.2% compared to April, moving the unadjusted average price down 11.4% year over year.Click on graph for larger image.
emphasis added
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 declined in May (seasonally adjusted) and were down 12.1% year-over-year (YoY).