United States Used Car Prices MoM

The Manheim Used Vehicle Value Index for the US jumped 1.3% month-over-month in November 2024, the first rise in three months, following a 0.1% drop in October. “The Thanksgiving holiday usually slows down the market, and it did this year, although it was very late in the month from a timing perspective. This slowdown caused a slightly sharper decline in values at month-end than usual. However, tight supply in wholesale and retail markets will support healthy dealer demand through the final month of the year”, said Jeremy Robb, senior director of Economic and Industry Insights at Cox Automotive. Prices rose for the luxury segment (1.7%), SUVs (1.5%), midsize sedans (0.9%), pickups (0.6%), and compact cars (0.2%). EV prices increased 0.2% while non-EVs were up 1.3%. Year-on-year, prices for used cars rose 0.2%, the first annual gain since August 2022.