Prices were down over 11% year-over-year.
Wholesale used-vehicle prices on a mix, mileage, and seasonally adjusted basis decreased 1.6% in July from June. The Manheim Used Vehicle Value Index (MUVVI) declined to 211.7, down 11.6% 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 since the pandemic low.
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