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Wholesale used-vehicle prices decreased 1.0% from December during the first 15 days of January, according to data just released by industry expert Manheim.* The Manheim mid-month Used Vehicle Value Index dropped to 201.9, which was down 10.2% from the full month of January 2023. The usual seasonal adjustment minimally added to the decline. The non-adjusted price change in the first half of January dropped 0.9% compared to December, while the un-adjusted price was down 9.9% year-over-year.
“As we start January, we are seeing wholesale values decline a little in the first part of the month,” said Jeremy Robb, senior director of Industry Insights, Cox Automotive,** the parent company of Manheim. “While it’s pretty early to call it a trend, declines are fairly normal relative to the last several years and maybe just a smidge stronger than what we’d usually see.”
Cox Automotive by using Manheim sales and inventory data, estimates that wholesale supply ended December at 32 days, up two days from the end of November and up one day year over year. “As of Jan. 15, wholesale supply was up one day from the end of December at 33 days, and up two days year over year but down two days compared to 2019. Wholesale supply is tighter than normal for this time of year,” Cox said.
*Manheim
Manheim® says it is the nation’s leading provider of end-to-end wholesale vehicle solutions that help dealer and commercial clients increase profits and efficiencies in their used vehicle operations. Through its physical, mobile, and digital sales network, Manheim offers services for decisioning (sic), buying and selling, floor planning, logistics, assurance, and reconditioning. Operating the largest vehicle wholesale marketplace, Manheim provides clients with choices to connect and transact business how and when they want. With nearly 8 million used vehicles offered annually, Manheim team members help the company facilitate transactions representing nearly $80 billion in value. Headquartered in Atlanta, Manheim North America is a Cox Automotive™ brand.
**Cox Automotive
Cox Automotive says it is the world’s largest automotive services and technology provider. Fueled by the largest breadth of first-party data fed by 2.3 billion online interactions a year, Cox Automotive tailors leading solutions for car shoppers, automakers, dealers, retailers, lenders, and fleet owners. The company has 25,000-plus employees on five continents and a family of trusted brands that includes Autotrader®, Dealertrack®, Kelley Blue Book®, Manheim®, NextGear Capital™, and vAuto®. Cox Automotive is a subsidiary of Cox Enterprises Inc., a privately owned, Atlanta-based company with $22 billion in annual revenue. Visit coxautoinc.com or connect via @CoxAutomotive on X, CoxAutoInc on Facebook, or Cox-Automotive-Inc on LinkedIn.
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Manheim – Used-Vehicle Prices Drop in January
Click for more Manheim.
Wholesale used-vehicle prices decreased 1.0% from December during the first 15 days of January, according to data just released by industry expert Manheim.* The Manheim mid-month Used Vehicle Value Index dropped to 201.9, which was down 10.2% from the full month of January 2023. The usual seasonal adjustment minimally added to the decline. The non-adjusted price change in the first half of January dropped 0.9% compared to December, while the un-adjusted price was down 9.9% year-over-year.
“As we start January, we are seeing wholesale values decline a little in the first part of the month,” said Jeremy Robb, senior director of Industry Insights, Cox Automotive,** the parent company of Manheim. “While it’s pretty early to call it a trend, declines are fairly normal relative to the last several years and maybe just a smidge stronger than what we’d usually see.”
Cox Automotive by using Manheim sales and inventory data, estimates that wholesale supply ended December at 32 days, up two days from the end of November and up one day year over year. “As of Jan. 15, wholesale supply was up one day from the end of December at 33 days, and up two days year over year but down two days compared to 2019. Wholesale supply is tighter than normal for this time of year,” Cox said.
*Manheim
Manheim® says it is the nation’s leading provider of end-to-end wholesale vehicle solutions that help dealer and commercial clients increase profits and efficiencies in their used vehicle operations. Through its physical, mobile, and digital sales network, Manheim offers services for decisioning (sic), buying and selling, floor planning, logistics, assurance, and reconditioning. Operating the largest vehicle wholesale marketplace, Manheim provides clients with choices to connect and transact business how and when they want. With nearly 8 million used vehicles offered annually, Manheim team members help the company facilitate transactions representing nearly $80 billion in value. Headquartered in Atlanta, Manheim North America is a Cox Automotive™ brand.
**Cox Automotive
Cox Automotive says it is the world’s largest automotive services and technology provider. Fueled by the largest breadth of first-party data fed by 2.3 billion online interactions a year, Cox Automotive tailors leading solutions for car shoppers, automakers, dealers, retailers, lenders, and fleet owners. The company has 25,000-plus employees on five continents and a family of trusted brands that includes Autotrader®, Dealertrack®, Kelley Blue Book®, Manheim®, NextGear Capital™, and vAuto®. Cox Automotive is a subsidiary of Cox Enterprises Inc., a privately owned, Atlanta-based company with $22 billion in annual revenue. Visit coxautoinc.com or connect via @CoxAutomotive on X, CoxAutoInc on Facebook, or Cox-Automotive-Inc on LinkedIn.
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