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.
Wholesale Prices Retreat From Record High
Wholesale used vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) decreased 1.32 percent month-over-month in November. This brought the Manheim Used Vehicle Value Index to 139.0, a 3.3 percent increase from a year ago.
Looking at trends in weekly Manheim Market Report (MMR) prices, November saw continued normalizing depreciation. Three-year-old vehicles ended the month worth 2.7 percent more than they would normally have been worth had typical depreciation occurred instead of the abnormal appreciation observed this summer.
On a year-over-year basis, most major market segments saw price gains in November; but more affordable vehicles continue to see the greatest increase in values. Compact cars and midsize cars outperformed the overall market, while utility vehicles and pickups underperformed the overall market.
Mixed results for retail vehicle sales in November. According to Cox Automotive estimates, used vehicle sales volume was up 0.8 percent year-over-year in November. 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 November on an annualized basis) and private-party used vehicle sales (up 2 percent in November on an annualized basis). We estimate the November used SAAR to be 40.1 million, up slightly from 39.8 million last November.