Wholesale Used-Vehicle Prices Increase

Key takeaways: The Manheim Used Vehicle Value Index (MUVVI) concluded 2024 showing a year-over-year increase in wholesale values of less than 1%, compared to the 7.0% decrease observed in the previous year. 2024 ended at a positive 0.4%, close to our long-term average since 2019.

What’s next: Cox Automotive is forecasting a normal year for the Manheim Used Vehicle Value Index, with an anticipated increase of 1.4% from December-over-December in 2025. Given the long-term bias movement in the MUVVI at +2.3%, this forecast indicates that we expect more typical overall depreciation in wholesale values throughout 2025, although again below long-term averages.