Prices were down both month-over-month and year-over-year.
Wholesale used-vehicle prices, on a mix-, mileage-, and seasonally adjusted basis, dropped from February in the first 15 days of March and were also down versus last year. The mid-month Manheim Used Vehicle Value Index fell to 200.8, now showing a decline of 1.1% from the full month of March 2024.
Decreasing used vehicle prices allow for less collision repair work prior to it being declared a total loss. The decline in prices from the pandemic-era highs, coupled with consumers switching to higher deductibles to reduce the impact of auto insurance premium price
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