Wholesale Used Values Dip

By Staff Writer July 11, 2022

Wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) decreased 1.3% in June from May. The Manheim Used Vehicle Value Index declined to 219.9, up 9.7% from a year ago. The non-adjusted price change in June decreased 1.8% compared to May, leaving the unadjusted average price up 10.7% year over year.

In June, Manheim Market Report (MMR) values saw larger declines over the last two weeks than the prior two weeks. Over the last four weeks, the Three-Year-Old Index decreased a net 2.5%. Over the month of June, daily MMR Retention, which is the average difference in price relative to current MMR, averaged 98.4%, meaning market prices were slightly behind MMR values. The average daily sales conversion rate declined to 51.7%, which was a typical seasonal pattern but was at a level below normal for the time of year. For example, the sales conversion rate averaged 57% in June 2019. The lower conversion rate indicates that the month saw buyers with more bargaining power for this time of year.

All major market segments again saw seasonally adjusted prices that were higher year over year in June, except for pickups showing a 2.5% decline. Vans had the largest increase at 23.1%, with compact and sports cars maintaining seasonally adjusted year-over-year gains ahead of the overall industry. Compared to May, all major segments’ performance was down. Pickups and midsize cars lost more than 2%, followed by luxury cars and vans at 1.8% and 1.6%, respectively.

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Last modified on Friday, 15 July 2022 18:05