Wholesale Used-Vehicle Prices Declined in June
Published on July 17, 2023
Prices were down on a monthly and yearly basis.
Wholesale used-vehicle prices on a mix, mileage, and seasonally adjusted basis decreased 4.2% in June from May. The Manheim Used Vehicle Value Index (MUVVI), at 215.1, was also down 10.3% from a year ago.
Lower used vehicle prices increase pressure on the number of total losses impacting the collision repair industry, while rising prices allow for more collision repair work to be performed prior to a vehicle being declared a total loss. The increase in used vehicle prices has been a major factor driving the growth in the collision repair market
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The post Wholesale Used-Vehicle Prices Declined in June appeared first on CollisionWeek.