After four straight record months in the Manheim Used Vehicle Value Index, used-car prices began to ease in November.
Wholesale used prices fell 1.32 percent from October, according to analysis included with Manheim’s latest release of its index.
The resulting reading of Manheim’s index was 139.0. While that’s up 3.3 percent year-over-year, the dip from October ends a four-month string of record highs in the index.
Last month was also one of “continued normalizing depreciation,” based on trends the company spotted in weekly Manheim Market Report prices.
“Three-year-old vehicles ended the month worth 2.7 percent more than they would normally have been worth had typical depreciation occurred instead of the abnormal appreciation observed this summer,” Manheim said in the analysis.
Again, the index was still up 3.3 percent from a year ago. And five of the six segments included in the market classes shared by Manheim were up, as well.
Compact car prices climbed 5.3 percent from November 2017, midsize cars were up 6.4 percent and vans were up 5.3 percent. Pickup prices were up 1.4 percent year-over-year, and there was a 2.0-percent gain in SUV/CUV prices.
Luxury cars fell 2.8 percent year-over-year.
Sharing some more pricing data, Manheim said there was a 3-percent year-over-year hike in average rental risk prices. But compared to October, they fell 3 percent.