Wholesale Used-Vehicle Prices Declined in October

Wholesale used-vehicle prices declined in October compared to the previous month and the same period last year. The Manheim Used Vehicle Value Index (MUVVI) decreased by 3.2% year-over-year. This decline is attributed to factors such as seasonal trends, the impact of hurricanes, and slower depreciation rates in key segments.

The decrease in used vehicle prices has implications for the collision repair industry. Lower prices may lead to fewer vehicles totaling, resulting in fewer repair claims. Additionally, consumers opting for higher insurance deductibles to mitigate premium increases further reduce the number of repairable claims. 

While retail used-vehicle sales increased in October, the trend of declining wholesale prices and slower depreciation rates continues to impact the industry.

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