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 Decline Slightly in February
Wholesale used vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) decreased 0.11 percent month-over-month in February. This brought the Manheim Used Vehicle Value Index to 135.2, a 3.2 percent increase from a year ago.
Looking at trends in weekly Manheim Market Report (MMR) prices, February saw continued price depreciation similar to what we saw in January and at the end of last year but by the end of February prices started to stabilize. Three-year-old vehicle values in aggregate depreciated at a faster pace than normal adding to the weak start of the year, but the most recent week points to stronger prices in March.
On a year-over-year basis, all major market segments saw seasonally adjusted price gains in February. As was the case throughout 2018, more-affordable vehicles continued to see the greatest increase in values in February. Midsize cars outperformed the overall market, while utility vehicles and pickups underperformed the overall market.
Mixed retail results for vehicle sales in February. According to Cox Automotive estimates, used vehicle sales volume was up 2 percent year-over-year in February. We estimate the February used SAAR to be 39.4 million, up from 38.6 million last February and up from January’s weaker 38.8 million rate.