The Manheim/Cox Automotive team released its used vehicle price index through the first 15 days of October. Used vehicle values continued to decline as one would expect. We expect further declines this year and next as we wrote back in early October. Used vehicle valuations and sales are typically a leading indicator as it relates to broader economic strength or weakness.
Some of the highlights from the release:
- Wholesale used-vehicle prices (on a mix, mileage, and seasonally adjusted basis), decreased 2.0% from September in the first 15 days of October.
- The Manheim Used Vehicle Value Index fell to 200.5, down 10.3% Y-O-Y from October 2021.
- Read the full release HERE.
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