Wholesale Used-Vehicle Prices Continued to Decline in April

Manheim’s Used Vehicle Value Index (MUVVI) saw a decrease in April 2024, both month-over-month and year-over-year. This signifies a drop in wholesale used car prices. The year-over-year decline was steeper, at 14.0% compared to April 2023. Additionally, all major vehicle segments experienced a decrease in seasonally adjusted prices in April. Compact cars witnessed the biggest drop at 17.6% year-over-year.

This trend of declining wholesale used car prices suggests that less collision repair work will be done on vehicles before they are totaled. Daily sales conversion rates also dropped in April compared to March, indicating a decrease in demand. However, this decrease is somewhat typical for this time of year.

Read more: https://lnkd.in/gaVG9bMu

#usedcars #wholesale #pricesdown #Manheim #MMR #collisionrepair #demand

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