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The Manheim Market Report values saw above-average declines that were relatively consistent, with values declining almost 4% in the last four weeks.
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Clients will also see a cleaner interface and more trustworthy estimated retail values.
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CAR 2023: Remarketers should prepare for more of the economic and market conditions that have been shifting widely year to year since 2019.
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The month also ended at near 41 days’ vehicle supply, down from 48 days at the end of January and 13 days lower than February 2022 at 54 days' supply.
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All eight major vehicle market segments saw seasonally adjusted prices that were lower year over year in January.
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The used-vehicle market faces a challenging year ahead as demand weakens and supply of nearly new vehicles is particularly constrained.
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After volatile highs and lows during the last three years, the market should hit equilibrium in the second half of 2023.
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Declines in Manheim Market Report prices, days' supply, and average daily sales conversion rates are following typical patterns for November.
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All eight major market segments saw seasonally adjusted prices that were lower year over year in October.
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Only three of eight major market segments saw seasonally adjusted prices that were higher year over year in September. The full-year Manheim Used Vehicle Value Index forecast is expected to finish the year down nearly 14% YOY, up from the second quarter’s revised forecast of a 6% decline.
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