Used-vehicle values notch first YOY decline since 2017
The Manheim index of used-vehicle values posted its first year-over-year decline in 33 months, dropping 0.4% to 140.3. By comparison, the October 2018 value was 140.9. Looking closer, most major market segments posted price declines — 3-year-old vehicles, in aggregate, fell 4% for the month. Normal price depreciation usually drops between 1.5% and 2%.
Used-vehicle sales volume, however, increased 1.4% year over year to 39.6 million units. New-vehicle sales slouched, with the October SAAR falling to 16.5 million units, down 1.8% from October 2018. Sedans as a percentage of total car sales came in at 26%, the lowest percentage on record. New-vehicle inventory fell below 4 million units for the sixth straight month.
