Prices that influence total loss rates were down both on a month-over-month basis and year-over-year.
Wholesale used-vehicle prices on a mix-, mileage-, and seasonally adjusted basis, decreased 1.0% from December in the first 15 days of January. The midmonth Manheim Used Vehicle Value Index dropped to 201.9, which was down 10.2% from the full month of January 2023. The seasonal adjustment minimally added to the decline. The non-adjusted price change in the first half of January dropped 0.9% compared to December, while the unadjusted price was down 9.9% year over year.
Generally, declining prices allow for less collision repair work
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