Prices were down on a month-over-month and year-over-year basis increasing pressure on total losses.
Wholesale used-vehicle prices on a mix, mileage, and seasonally adjusted basis decreased 2.1% in November from October. The Manheim Used Vehicle Value Index (MUVVI) dropped to 205.0, down 5.8% from a year ago.
Generally, declining prices allow for less collision repair work to be performed prior to a vehicle being declared a total loss. As CollisionWeek reported November 16, government statistics on inflation show that used vehicle prices are down from the most recent high in July 2022.
“While November’s decline was only slightly less than
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