More upward pressure on total loss rates as Manheim Used Vehicle Value Index declined both month-over-month and year-over-year.
Wholesale used-vehicle prices, on a mix, mileage, and seasonally adjusted basis, were lower in October compared to September and October 2023. The Manheim Used Vehicle Value Index (MUVVI) fell to 202.8, a decline of 3.2% from a year ago. The seasonal adjustment to the index reduced the change for the month, as non-seasonally adjusted values declined at a higher rate. The non-adjusted price in October decreased by 1.9% compared to September, moving the unadjusted average price down 3.7% year over year.
Declining
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