Used Car Wholesale Prices Rise Slightly in August but Remain Down from Last Year's Highs

Used vehicle wholesale prices increased 0.2% in August, the first increase since March.
The Manheim Used Vehicle Value Index was 212.2 in August, up from 211.7 in July.
The index remains elevated from pre-pandemic levels but is down 7.7% from August 2022.
Retail used vehicle prices typically follow changes in wholesale pricing.
Wholesale used vehicle prices expected to remain relatively stable through end of 2022 due to tight inventories.

cnbc.com

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The Car Market Just Flipped — 10 Massive Price Drops

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Wholesale Prices Rise in August, Driven by Higher Gas Prices

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Retail Sales Edge Up in August Despite Higher Prices and Rate Hikes

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Posted 9/8/2023, 1:05:01 PM

Used Car Wholesale Prices Rise Slightly in August but Remain Down from Last Year's Highs

Used vehicle wholesale prices increased 0.2% in August, the first increase since March.
The Manheim Used Vehicle Value Index was 212.2 in August, up from 211.7 in July.
The index remains elevated from pre-pandemic levels but is down 7.7% from August 2022.
Retail used vehicle prices typically follow changes in wholesale pricing.
Wholesale used vehicle prices expected to remain relatively stable through end of 2022 due to tight inventories.

cnbc.com

Relevant topic timeline:

8/27/2023

The Car Market Just Flipped — 10 Massive Price Drops

The auto market has seen a significant decline in average new vehicle prices, with a drop of $3,243 from January to July, marking the first notable decline in car prices in years.

8/28/2023

Surging Demand in Used Car Market Unfazed by Rough Conditions, Fewer Gently Used Vehicles Available

9/3/2023

Carvana, CarMax should be in the driver's seat as used car shortages persist (NYSE:CVNA)

9/13/2023

Surging Gas Prices Drive Largest Consumer Price Increase in 14 Months

9/14/2023

Wholesale Prices Rise in August, Driven by Higher Gas Prices

US wholesale prices increased at a faster pace in August, indicating that inflation remains persistent despite interest rate hikes by the Federal Reserve.

9/14/2023

Retail Sales Edge Up in August Despite Higher Prices and Rate Hikes