Page 24 - On The Move - Volume 17, Issue 3

Jonathan Smoke
Chief Economist
Cox Automotive
Twitter - @smokeoncars

Wholesale used vehicle prices (on a mix-, mileage-, and seasonally adjusted basis)
increased 8.96% month-over-month in May. This brought the Manheim Used Vehicle
Value Index to 137.0, a 1.9% decrease from a year ago.

Manheim Market Report (MMR) prices improved over the last four weeks resulting in a 5.1% cumulative increase on the Three-
Year-Old Index. MMR Retention, which is the average difference in price relative to current MMR, was greater than 100% in all
but three days in May and averaged 101.7% for the month. The MMR Retention trend reflected that vehicles were selling above
current MMR values and was a clear reversal of what happened in late March and April.

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