by Calculated Risk on 10/09/2022 08:11:00 AM
From Manheim Consulting on Friday: Wholesale Used-Vehicle Prices See Large Decline Again in September
Wholesale used-vehicle prices (on a mix, mileage, and seasonally adjusted basis) decreased 3.0% in September from August. The Manheim Used Vehicle Value Index declined to 204.5 and is now down 0.1% from a year ago. The non-adjusted price change in September was a decline of 2.1% compared to August, moving the unadjusted average price down 2.3% year over year.emphasis added
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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 September and were down 0.1% year-over-year (YoY).
This also suggests the consumer price index for used cars and trucks will be down again in September.
It is likely this index will be down more than 10% YoY in October.