Used Vehicle Wholesale Prices Decline in February

Used Vehicle Wholesale Prices Decline in February

by Calculated Risk on 3/07/2022 09:18:00 AM

From Manheim Consulting today: Wholesale Used-Vehicle Prices Decline in February

Wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) declined 2.1% in February from January. The Manheim Used Vehicle Value Index declined to 231.3, which was a 36.7% increase from a year ago. The non-adjusted price change in February was a decline of 2.2% compared to January, leaving the unadjusted average price up 32.4% year over year.

Manheim Market Report (MMR) values saw weekly price decreases in February that decelerated each week.
emphasis added

Click on graph for larger image.

This index from Manheim Consulting is based on all completed sales transactions at Manheim’s U.S. auctions.

The Manheim index suggests used car prices declined in February but are still up 36.7% year-over-year.
According to the BLS, “Used cars and trucks” were up 1.5% in January compared to December 2021 (up 19.1% annualized) and up 40.5% year-over-year in January. It seems likely that “Used cars and trucks” will be down in the February CPI report.

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