![]() As of March 15, wholesale supply was at 22 days, down one day from the end of February, down four days year over year, and four days lower than in 2019. Leveraging Manheim sales and inventory data, we estimate that wholesale supply ended February at 24 days, down two days from the end of January and down four days year over year. Days’ supply was down 11 days year over year and down four days compared with the same week in 2019. Using estimates based on vAuto data as of March 13, used retail days’ supply was 38 days, which was down three days from the end of February. Retail and wholesale days’ supply below normal in mid-March. Sports cars were the lone exception, with a 2.4% decline from February. Seven of eight major segments saw price increases compared to February, with gains ranging from 0.1% to 2.4%. ![]() The remaining segments lost between 2.4% and 7.7%, with luxury cars faring the worst. Pickups had a 0.9% increase, while only midsize and compact cars lost less compared to the overall industry in seasonally adjusted year-over-year changes. Seven of eight major market segments saw seasonally adjusted prices that were again lower year over year in the first half of March. The average daily sales conversion rate of 68.3% in the first half of March increased relative to February’s daily average of 63.8% and was above the March 2019 daily average of 65.3%. Over the first 15 days of March, MMR Retention, the average difference in price relative to current MMR, averaged 100.5%, indicating that valuation models are below market prices. Prices usually increase in the first two weeks of March, as the average price change for these weeks in the six years from 2014 through 2019 was an increase of 1.2%. Over the last two weeks, Manheim Market Report (MMR) prices increased by an aggregate of 1.6%. The non-adjusted price change in the first half of March was an increase of 3.8% compared to February, while the unadjusted price was down 2.6% year over year. ![]() The seasonal adjustment minimized the gains. The midmonth Manheim Used Vehicle Value Index rose to 238.6, which was down 2.1% from the full month of March 2022. Wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) increased 1.8% from February in the first 15 days of March. The presentation will be available one hour before the conference call. Jonathan and Chris will be joined by Jeremy Robb, Senior Director, Economic & Industry Insights at Cox Automotive, who will highlight key wholesale pricing and sales conversion metrics.įor questions, or to request data, please email If you want regular updates about the Manhiem Used Vehicle Value Index, as well as direct invitations to the quarterly call sent to you, please sign up for our Cox Automotive newsletter and select Manheim Used Vehicle Value Index quarterly calls. You are invited to join Cox Automotive Chief Economist Jonathan Smoke and Chris Frey, Senior Manager of Economic and Industry Insights, as they discuss the latest Manheim Used Vehicle Value Index and the major economic and industry trends that shaped the quarter. Please RSVP to add the presentation to your calendar and see how to join.
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