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Used Vehicle Wholesale Prices


Since the pandemic has disrupted new car production and sales, used car prices have increased sharply. This has pushed up inflation (“Used Cars” were up 51% annualized in December).

Here is some data on used vehicle wholesale prices. From Manheim Consulting: Wholesale Prices Increased at Slowing Pace on Seasonally Adjusted Basis in December Wholesale used vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) increased 1.6% month-over-month in December. This brought the Manheim Used Vehicle Value Index to 236.2, a 46.6% increase from a year ago. The non-adjusted price change in December was a decline of 1.1% compared to November, leaving the unadjusted average price up 43.4% year-over-year.

According to Cox Automotive estimates, total used vehicle sales were down 4% year-over-year in December. We estimate the December used SAAR to be 39.1 million, down from 40.6 million last December and flat compared to November’s revised 39.1 million SAAR. The December used retail SAAR estimate is 20.4 million, down from 21.6 million last year and flat month-over-month. Click on graph for larger image.

This index from Manheim Consulting is based on all completed sales transactions at Manheim’s U.S. auctions.

According to the BLS, “Used cars and trucks in U.S. city average, all urban consumers, seasonally adjusted” is up 55% since the low in June 2020.

The Manheim index suggests this might slow.

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