United States Used Car Prices MoM

The Manheim Used Vehicle Value Index for the US edged down 0.1% month-over-month in October 2024, following a 0.5% fall in September. “Wholesale values were a bit weaker against what we normally see in October, and trends may have been impacted by business disruptions early in the month caused by hurricanes Helene and Milton coming back to back,” said Jeremy Robb, senior director of Economic and Industry Insights at Cox Automotive. Prices declined for SUVs (-0.9%) and the luxury segment (-1.2%), were steady for compact cars and increased for midsize sedans (0.5%) and pickups (0.1%). Year-on-year, used car prices fell 3.2%, the smallest annual decline since March 2023. Prices for pickups declined the most year-on-year (-6%), followed by SUVs (-3.9%), compact cars (-3.5%), luxury (-3%) and midsize sedans (-3%).