Wholesale Used Car Prices Declined in April; Down 14.0% Year-over-year
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- Created: Monday, 06 May 2024 13:06
- Written by Calculated Risk
From Manheim Consulting today: Wholesale Used-Vehicle Prices Declined in April
Wholesale used-vehicle prices (on a mix, mileage, and seasonally adjusted basis) were down in April compared to March. The Manheim Used Vehicle
Value Index (MUVVI) fell to 198.4, a decline of 14.0% from a year ago. The seasonal adjustment to the index magnified the results for the month, resulting in a 2.3% month-over-month decrease. The non-adjusted price in April decreased by 0.6% compared to March, moving the unadjusted average price down 11.9% year over year.
emphasis added
Click on graph for larger image.
This index from Manheim Consulting is based on all completed sales transactions at Manheim’s U.S. auctions.
The Manheim index suggests used car prices declined in April (seasonally adjusted) and were down 14.0% year-over-year (YoY).
At the Calculated Risk Real Estate Newsletter this week: Click on graph for larger image. • Single Family Starts Up 18%
The key reports this week are April New and Existing Home Sales. ----- Monday, May 20th ----- 10:30 AM: Speech, Fed Vice
Note: Mortgage rates are from MortgageNewsDaily.com and are for top tier scenarios. For deaths, I'm currently using 4 weeks ago
Today, in the Calculated Risk Real Estate Newsletter: Lawler: Early Read on Existing Home Sales in April & 3rd Look