Used-car values drop for second straight month | Auto Finance News | Auto Finance News

Used-car values drop for second straight month

© Can Stock Photo / AndreyPopov

November’s Manheim Used Vehicle Value Index posted its second straight year-over-year decline, falling to 138.9, a 0.1% drop.

Compared with October, values for 3-year-old vehicles dropped 1.6%. Midsize cars and luxury vehicles outperformed the overall market, while the other major segments underperformed.

Total used-vehicle sales volume also declined 2.7% to 39.7 million units, compared with 40.8 million units in the prior-year period. By comparison, October’s used-vehicle sales volume was 39.6 million units.

For new vehicles, November’s SAAR came in at 17.1 million units, a drop from 17.4 million units a year ago. In addition, new-vehicle inventories clocked in below 4 million units for the seventh straight month.

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