![]() ![]() ![]() All major segments also saw price decreases compared to June, with losses ranging from 0.5% to 2.1%. Compact cars lost the most, at 15.0%, followed by midsize cars, off 13.2%. Pickups lost the least, down 6.5%, followed by vans, down 8.8%. The average daily sales conversion rate of 47.4% in the first half of July declined relative to June’s daily average of 51.9% and was below the July 2019 daily average of 60.1%.Īll major market segments saw seasonally adjusted prices that were lower year over year in the first half of July. Over the first 15 days of July, MMR Retention, the average difference in price relative to current MMR, averaged 98.5%, indicating that valuation models remain ahead of market prices. Over the last two weeks, Manheim Market Report (MMR) prices declined an aggregate of 1.8%, which is an elevated level of decline for the time of year. ![]() The non-adjusted price change in the first half of July declined 3.0% compared to June, while the unadjusted price was down 10.0% year over year. ![]() The seasonal adjustment mitigated the decline. The midmonth Manheim Used Vehicle Value Index dropped to 213.1, which was down 11.1% from the full month of July 2022. Wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) decreased 1.0% from June in the first 15 days of July. ![]()
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