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Jonathan Smoke
Chief Economist
Cox Automotive
Twitter - @smokeoncars
holesale used vehicle prices (on a mix- Manheim Market Report (MMR) values saw week-
W, mileage-, and seasonally adjusted ly price decreases in December that accelerated in
basis) increased 1.6% month-over-month the final weeks of the month. Over the full four weeks
in the month, the Three-Year-Old Index declined a net
in December. This brought the Manheim 1.7%. Over the month of December, daily MMR Reten-
Used Vehicle Value Index to 236.2, a 46.6% tion, which is the average difference in price relative to
increase from a year ago. The non-adjust- current MMR, averaged 98.3%, which meant that mar-
ket prices were behind MMR values. The average dai-
ed price change in December was a decline ly sales conversion rate also declined in the month to
of 1.1% compared to November, leaving the 53%, which was close to normal for the time of year.
unadjusted average price up 43.4% year- For example, the sales conversion rate averaged 52% in
December 2019. This indicates that the month saw bal-
over-year. ance between buyers and sellers, and as a result most
vehicles showed price depreciation.
16 www .maad a. com
16 www.maada.com
