Wholesale Prices Decline in December

Wholesale used vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) decreased 0.59% month over month in December. This brought the Manheim Used Vehicle Value Index to 161.1, a 14.2% increase from a year ago.

Manheim Market Report (MMR) prices declined each week over the four full weeks of December, resulting in a 2.2% cumulative decline on the Three-Year-Old Index. In the last full week of December, the Three-Year-Old Index declined 0.6%, which was larger than the average decline for the final week of the year over the last seven years. MMR retention, which is the average difference in price relative to current MMR, averaged 99.4% in December. The sales conversion rate averaged 51% over the month, which was a decline from November and relatively low for this time of year.

Access the full report.

For 25 years, the MUVVI has been the definitive source on the state of the used vehicle market. Based on millions of individual valuations each year, it is the automotive industry’s only measure of used vehicle values that is seasonally adjusted and accounts for changes in mix and mileage of vehicles sold. The monthly data is derived from vehicles sold at Manheim’s U.S. locations and on its digital properties. Stock market analysts and media use the MUVVI as an indicator of the health of the economy and automotive industry.

The complete suite of monthly MUVVI data is released the fifth business day of the month. The next quarterly call will be held on Wednesday, April 7, 2021. If you have any questions regarding the Index, please contact the Cox Automotive Industry Insights team at Manheim.Data@coxautoinc.com.