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In a first-ever metric compiled by Cox Automotive, seasonally adjusted electric vehicle values ended 2023 down 17%, while non-EVs were down 7.1% for the year.
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September reported higher prices though the month as a result of the UAW strike.
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During the last two weeks, Manheim Market Report (MMR) prices declined an aggregate of 0.3%, which was less than half of the normal decline for this time of year.
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While the total supply of unsold used vehicles is down from the same time a year ago, they are up from the end of June.
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June reported overall wholesale vehicle prices declines throughout the month.
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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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Sales into commercial fleets were up 37% and sales into government fleets were up 28% last month compared to August 2021.
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All major market segments once again saw seasonally adjusted prices that were higher year over year in July.
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