Used Wholesale Car Prices Continue Fall

Two used-wholesale vehicle indicators show a drop in prices in October, continuing a multimonth decline that started as spring gave way to summer.

Cox Automotive’s Manheim Used Vehicle Value Index decreased 2.2%, while Black Book’s Used Vehicle Retention Index fell 1.2%, indicating ongoing drops in wholesale used-vehicle market values.

Cox’s index was down 10.6% year-over-year, adjusted for seasonality, mix and mileage, while Black Book’s was off 3.3%.

Cox’s nonadjusted price change was 2.1% from September, for a 12-month drop of 9.3%. Black Book’s index is adjusted for seasonality, vehicle age, mileage, condition and inflation. It tracks percent retention from original MSRP of a typical 4-year-old vehicle in the market.

Used-retail prices decreased 9% from September and 13% from a year earlier, Cox said.

READ MORE: Wholesale Used Vehicle Prices Rise 48.1% in 2 Years