WHOLESALE VEHICLE PRICES DECLINE IN THE FIRST HALF OF FEBRUARY
Wholesale used-vehicle prices declined 1.5% in the first 15 days of February compared to the full month of January. This brought the Manheim Used Vehicle Value Index (MUVVI) to 232.8, which was up 37.6% from February 2021. The non-adjusted price change in the first half of February declined 1.4% compared to January, leaving the unadjusted average price up 33.5% year over year.
On a year-over-year basis, all major market segments saw seasonally adjusted price gains through the first 15 days of February. Pickups had the smallest year-over-year gains, vans had the largest at 51.1%, and both non-luxury car segments outpaced the overall industry in seasonally adjusted price growth. Compared to January, all major segments except vans saw price declines, with mid-size cars declining the most. The official February MUVVI, with data for the full month, will be posted next week.
See the Data Point for more mid-month details on the Manheim Market Report and sales conversion rate, and RSVP to attend the Q1 Manheim Used Vehicle Value Call on Thursday, April 7, at 11 a.m. EST.