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Wholesale Used-Vehicle Prices See Smaller Decline in October
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The index declined to 200.0 and is now down 10.6% from a year ago.
In October, daily MMR Retention, which is the average difference in price relative to current MMR, averaged 98.2%, meaning market prices were below MMR values.
Used Retail Sales Estimates Declines in OctoberLeveraging a same-store set of dealerships selected to represent the country from Dealertrack, Manheim initially estimates that used retail sales declined 9% in October from September and that used retail sales were down 13% year over year.
Credit transactions heavily influence the same-store data series, and growth in cash purchase activity is likely causing the estimates to decline more than actual market sales.
Most of the index decline was driven by a 7.5% decline in views of the present situation.
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