While up, the index remains below year ago levels.
Wholesale used-vehicle prices on a mix-, mileage-, and seasonally adjusted basis increased 0.3% from September in the first 15 days of October. The mid-month Manheim Used Vehicle Value Index increased to 203.5, down 2.8% from the full month of October 2023.
Declining used vehicle prices allow for less collision repair work to be performed on a vehicle prior to it being declared a total loss. The decline in prices, coupled with consumers switching to higher deductibles to reduce the impact of auto insurance premium price increases, is depressing the number of
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