Wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) increased 0.07% month over month in November. This brought the Manheim Used Vehicle Value Index to 162.0, a 16.6% increase from a year ago.
The non-seasonally adjusted monthly change was -1.2%, which was more in line with what we have been seeing in weekly price trends. The difference between the price metrics is primarily a result of the seasonal adjustment, which essentially left values unchanged from October. The last three years have averaged a 1.2% non-seasonally adjusted decline. Therefore, this November’s seasonally adjusted value was effectively unchanged.
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 Friday, Jan. 8, 2021. RSVP to attend. If you have any questions regarding the Index, please contact the Cox Automotive Industry Insights team at Manheim.Data@coxautoinc.com.