Prices are down year-over-year on comparison to historic highs last year.
Wholesale used-vehicle prices, on a mix, mileage, and seasonally adjusted basis, increased 2.5% in January compared to December. The Manheim Used Vehicle Value Index (MUVVI) rose to 224.8, down 12.8% from a year ago. January’s increase was driven in part by the seasonal adjustment. The non-adjusted price change in January was an increase of 1.5% compared to December, moving the unadjusted average price down 11.0% year over year.
Generally, rising prices allow for more collision repair work to be performed prior to a vehicle being declared a total loss.
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