After increasing during the first quarter, prices were down both month-over-month and year-over-year.
Wholesale used-vehicle prices, on a mix, mileage, and seasonally adjusted basis, decreased 3.0% in April from March. The Manheim Used Vehicle Value Index (MUVVI) dropped to 230.8, down 4.4% from a year ago.
“While values increased 8.6% through the first quarter from December, the market has reversed course in April, with our monthly figures showing a month-over-month decline for the first time in 2023,” said Chris Frey, senior manager of Economic and Industry Insights for Cox Automotive. “Values in April also continue to be lower year over
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