MMR Under the Hood

The Manheim Market Report (MMR) provides transparency into today’s wholesale market for a given year, make, model and style (trim or key options) by displaying recent transactions and summary values derived from transactions.

Qualifying MMR transactions must be:

  • Sold in a competitive environment, including in-lane or online, in an Open or Closed sale;
  • Facilitated by Manheim, OVE’s myCentralAuction or RMS Automotive’s private auctions;
  • A whole car, with salvage vehicles excluded;
  • Not arbitrated.

MMR is:

  • Recalculated each night without human editing, ensuring values are up-to-date and unbiased;
  • Only provided when there are sufficient transactions to be confident in the accuracy.

Following is an explanation of the MMR page contents, with the intent of full transparency and common understanding of how to use MMR.

Base MMR

Base MMR is the average wholesale price, odometer and condition grade of recent transactions for a given year, make, model and style.

A few more details about Base MMR:

  1. The calculation excludes vehicles that sell for values far above or below the average (e.g., the fully tricked-out pickup that sells for $100k). This prevents Base MMR from being thrown off by outlier sales.
  2. The most recent transactions are more heavily weighted. This ensures that Base MMR captures seasonal trends (e.g., the Fall decline) and market dynamics (e.g., the effect of gas price jumps), and that it hardly lags today’s actual market value.  

Base MMR is best used to understand the average value of a given year, make, model and style. Uses include valuing a portfolio of vehicles where an average is good enough and/or condition, odometer or color may not be known.

Typical Range

Since no two vehicles, sales or markets are the same, the Typical Range paints a picture of how transaction prices for a given year, make, model and style vary around Base MMR. Based on the statistics of MMR, we expect about two-thirds of transaction prices to fall within the Typical Range.

MMR Adjustments

MMR Adjustments provide a breakdown of how odometer, geographic region, condition and exterior color impact a specific vehicle’s value relative to its Base MMR. These adjustments are derived from a statistical analysis of wholesale transaction prices and are recalculated daily for each year, make, model and style. For example, if the average AutoGrade condition for vehicles in the market were to drop from 4.1 to 3.5 over time, with all else being equal, you wouldn’t expect a 3.6 vehicle to get the same adjustment in both cases. Instead, the adjustment would be a deduct from a 4.1, but an add to a 3.5. 

Adjusted MMR

Adjusted MMR is the sum of Base MMR plus MMR Adjustments, with some rounding.  Nothing more. Use Adjusted MMR to understand what a specific vehicle is worth.

Adjusted MMR gauge

The gauge graphically depicts how the Adjusted MMR compares to the Base MMR and Typical Range. Use the gauge to quickly see how a specific vehicle’s value compares to its typical peers of the same year, make, model and style.

Vehicles outside of the Typical Range aren’t “good” or “bad.” The gauge is simply highlighting that this unit’s value is high or low compared to the average vehicle.  For example, a low-mileage, high-condition vehicle can easily sell for above the Typical Range, whereas a high-mileage, low-condition vehicle can easily sell for below the Typical Range.

Transactions

To provide full transparency and help you identify market trends and insights, recent transaction details are also displayed. Note that MMR Adjustments as described above are usually derived from more transactions than are displayed, since these calculations need larger sample sizes.

Historic Average

For a given year, make, mode and style, this section shows the average wholesale transaction price and odometer over three 30-day periods: the past 30 days, 6 months ago and one year ago.

Projected Average

Based on the recent trend of transaction prices for a given year, make, model and style, this section projects the average wholesale transaction price one month from today.

Estimated Retail Value

This section estimates the Average and Typical Range of retail values based on Autotrader advertised retail prices for a given year, make, model and style.

Feedback

Please provide feedback to the MMR team by clicking on the Feedback link on the side of the MMR page.