This was the first time the Manheim Market Report index reading has been under 200 since March 2021, illustrating the outsized moves in the index over the last three years.
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CAR 2024: Unlike a combustion engine, an EVs long-term value is maintained daily, based on the unique charging habits and battery management of its owner.
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Manheim expects constrained growth with a volume increase of less than 1% in 2024, indicating a return to a more normal market.
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Wholesale supply ended November at 30 days, up one day from the end of October and flat year over year.
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The fourth quarter should bring stable pricing among buyers and sellers, which should reflect only modest changes between now and the end of the year.
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During the last two weeks, Manheim Market Report (MMR) prices declined an aggregate of 0.3%, which was less than half of the normal decline for this time of year.
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While the total supply of unsold used vehicles is down from the same time a year ago, they are up from the end of June.
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While sales stalled a bit after mid-February compared to 2022, at mid-year the market is not getting worse with small percentage increases.
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Upside provides a way to generate profits in wholesale or retail, so they can take in more trades and close more retail deals, and is a way to link buyers and sellers nationwide.
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The Manheim Market Report values saw above-average declines that were relatively consistent, with values declining almost 4% in the last four weeks.
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