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Used Vehicle Wholesale Prices Decline Seasonally Adjusted in March

by Calculated Risk on 4/07/2022 09:14:00 AM

From Manheim Consulting today: Wholesale Used-Vehicle Prices Decline in March from Seasonal Adjustment

Wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) declined 3.3% in March from February. The Manheim Used Vehicle Value Index declined to 223.5, which was up 24.8% from a year ago. The non-adjusted price change in March was an increase of 0.6% compared to February, leaving the unadjusted average price up 23.2% year over year.

Manheim Market Report (MMR) values saw weekly price increases that accelerated in each full week of March after the first week saw the smallest decline of the 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 March seasonally adjusted but are still up 24.8% year-over-year.
According to the BLS, “Used cars and trucks” were down 0.2% in February compared to January and up 41.2% year-over-year in February. It seems likely that “Used cars and trucks” will be down in the March CPI report.

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