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Wholesale used-car prices show first decline since December

November 16, 2010

Used-car prices, which shot up in recent months, have started to come down, at least at the wholesale level, according to the consulting arm of the big used-car auction houses.

According to USA Today, Manheim Consulting’s index of used-car values dipped in October, its first decline since December 2008 when the index hit an all-time low. In the months since that December low, the index has climbed steadily, reaching an all-time high in September.

Prices dropped for trucks (-5.2 percent), full-size cars (-10.2 percent), and mid-size cars (-5.4 percent). The autumn typically sees a reduction in used-car sales. Factoring in a seasonal adjustment the index dipped 0.9 percent overall in October. Without that adjustment, it dropped 4.4 percent.