CARY, N.C. -

There was a “typical” seasonal decline in wholesale prices on a non-adjusted basis during November, and compared to a year ago, Manheim’s index measuring used-car values was up more than 16%.

Separately, a week-by-week analysis from J.D. Power shows continued softening in auction prices following their summertime peak.

According to a report accompanying the latest Manheim Used Vehicle Value Index, November wholesale prices were up 0.07% from October, when adjusting for mix, mileage and seasonality.

The resulting Manheim Used Vehicle Value Index for the month came in at 162.0, which beat the November 2019 reading by 16.6%.

“The non-seasonally adjusted monthly change was -1.2%, which was more in line with what we have been seeing in weekly price trends,” parent company Cox Automotive said in the report.

“The difference between the price metrics is primarily a result of the seasonal adjustment, which essentially left values unchanged from October. The last three years have averaged a 1.2% non-seasonally adjusted decline,” the report continued. “Therefore, this November’s seasonally adjusted value was effectively unchanged.”

Breaking down the wholesale price movement by segment, pickups showed 29.6% growth from November 2019. Luxury cars were up 21.5%, SUV/CUV prices were up 14.3%, compact cars were up 6.4% and vans were up 4.8%. Midsize cars climbed 1.1%.

The total change was a gain of 16.6%.

In a separate analysis, J.D. Power found that the last full week of the month (the week ending Nov. 29) showed a 1.6% decline in auction prices, marking the 15th straight time that auction prices had fallen from the prior week.

But despite being down 10% since peaking in August, auction prices are still 22% stronger than the April low point, J.D. Power analyst David Paris explained in the post from Friday.

What’s more they are still 4% stronger than pre-pandemic levels of early March.

“While (the week of Nov. 29) result was the softest performance since wholesale prices started to move lower, it should be noted that the market did pause in observance of the Thanksgiving holiday, which certainly dampened not only prices but also sales activity,” Paris said.