Wholesale used-vehicle prices (on a mix, mileage, and seasonally adjusted basis) were lower in October compared to September. The Manheim Used Vehicle Value Index (MUVVI) fell to 202.8, a decline of 3.2% from a year ago. The seasonal adjustment to the index reduced the change for the month, as non-seasonally adjusted values declined at a higher rate. The non-adjusted price in October decreased by 1.9% compared to September, moving the unadjusted average price down 3.7% year over year. 

“Wholesale values were a bit weaker against what we normally see in October, and trends may have been impacted by business disruptions early in the month caused by hurricanes Helene and Milton coming back to back,” said Jeremy Robb, senior director of Economic and Industry Insights at Cox Automotive. “Seasonally, October is the weakest month of the year for wholesale values; however, in recent weeks, we’ve observed lower depreciation trends in key segments against long-term run rates. Sales conversion continues to run higher than normal at this time of year, while days’ supply at Manheim is lower than normal, which likely keeps depreciation trends below average.”