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Wholesale Used Car Prices Down 14.9% Year-over-year; Largest Annual Decline on Record

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From Manheim Consulting today: Wholesale Used-Vehicle Prices Increase in DecemberWholesale used-vehicle prices (on a mix, mileage, and seasonally adjusted basis) increased 0.8% in December from November. The Manheim Used Vehicle Value Index (MUVVI) rose to 219.3, down 14.9% from a year ago. This was the largest annualized decline in the series’ history. December’s increase was driven by the seasonal adjustment. The non-adjusted price change in December was a decline of 1.9% compared to November, moving the unadjusted average price down 13.1% 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 slightly in December (seasonally adjusted) and were down 14.9% year-over-year (YoY).  
It is likely this index will be down further YoY in early 2023.   

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