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Today from Manheim Consulting: Wholesale prices for used cars rose significantly in February
Used car wholesale prices (combined, mileage and seasonally adjusted) rose 4.3% in February compared to January. It was the largest increase in all of February since the 4.4% rise in 2009. The Manheim Used Vehicle Value Index (MUVVI) rose to 234.5, down 7.0% from a year ago.. The increase in February was partly due to seasonal adjustment. February’s unadjusted price change increased 3.7% from January, resulting in a 5.6% year-on-year decrease in the unadjusted average price.
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This index from Manheim Consulting is based on all completed sales transactions at Manheim auctions in the USA.
The Mannheim Index shows that used car prices rose in February (seasonally adjusted) and fell 7.0% year on year (y/y).