Prices were down compared to last year’s record levels.
Wholesale used-vehicle prices on a mix, mileage, and seasonally adjusted basis increased 1.0% in September from August. The Manheim Used Vehicle Value Index (MUVVI) rose to 214.3, down 3.9% from a year ago.
Generally, higher used vehicle prices lower the number of total losses impacting the collision repair industry, while declining prices reduce the amount of collision repair work to be performed prior to a vehicle being declared a total loss.
“September auction sales bolstered prices through the channel,” said Chris Frey, senior manager of Economic and Industry Insights for Cox
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