Values down 21% from all-time high reached in 2021.
Following a downward trend that began in the second half of the year, 2023 ended with the Manheim Used Vehicle Value Index down 0.5% in December from November. The Manheim Used Vehicle Value Index (MUVVI) dropped to 204.0, down 7.0% from the previous year, a larger decline than originally expected. Compared to the index peak in December 2021, used-vehicle values are down nearly 21%.
“December’s decline brought a volatile year to a close,” said Jeremy Robb, senior director of Economic and Industry Insights for Cox Automotive. “The spring bounce was much
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