ATLANTA, Oct. 7, 2020 /PRNewswire/ — Wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) decreased 1.58% month over month in September, the first month-over-month drop in wholesale values since May. The Manheim Used Vehicle Value Index for September was 161.2, a 15.2% increase from a year ago.
Manheim Market Report (MMR) prices declined at an accelerating pace over the four full weeks of September, resulting in a 2.9% cumulative decline on the Three-Year-Old Index. In the last full week of September, the Three-Year-Old Index declined 0.9%, which was the biggest weekly decline in 22 weeks. MMR Retention, which is the average difference in price relative to current MMR, averaged 99.5% for the four full weeks of September. The sales conversion rate averaged 58.8% over the same period, which was a decline from August and much more typical for this time of the year.
On a year-over-year