Used Vehicle Value Index
By applying statistical analysis to its database of more than 5 million used vehicle transactions annually, Manheim has developed a measurement of used vehicle prices that is independent of underlying shifts in the characteristics of vehicles being sold. View the index methodology.
The Manheim Index is increasingly recognized by both financial and economic analysts as the premier indicator of pricing trends in the used vehicle market, but should not be considered indicative or predictive of any individual remarketer's results.
Used Vehicle Values Set New Record for Third Straight Month
Wholesale used vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) increased 0.14 percent month-over-month in September. This brought the Manheim Used Vehicle Value Index to 139.9, which was a 3.7 percent increase from a year ago and a new record high for the Index.
Looking at trends in weekly Manheim Market Report (MMR) prices, the abnormal summer bounce that started in June ended after 11 straight weeks of price appreciation. September saw several continued weeks of normalizing depreciation. Even after that normalization, 3-year-old vehicles are now worth 4.5 percent more than they would normally be worth had typical depreciation occurred instead of the appreciation observed this year.
On a year-over-year basis, all major market segments saw price gains in September; but more affordable vehicles are seeing the greatest increases in values. Compact cars and midsize cars outperformed the overall market, while vans, utility vehicles, and pickups underperformed the overall market.
Vehicle sales slide in September. According to Cox Automotive estimates, used vehicle sales volume was down 2 percent year-over-year in September. The annualized pace of used vehicle sales was up almost 1 percent over last year led by franchised used vehicle sales (up 1 percent in September on an annualized basis) and private-party used vehicle sales (up 4 percent in September on an annualized basis). We estimate the September used SAAR to be 39.4 million, down from 39.7 million last September.