When adjusted for normal seasonal fluctuations, the prices dealers pay for the used cars they later sell did not increase in the first two weeks of January. That’s news.
The Manheim Used Vehicle Value Index tracks the prices dealers pay at auction for used cars. As used car prices have soared over the last year, the index has soared. In the first two weeks of January, it stopped. Prices increased by 0.8%. But that tracks with normal seasonal cycles in the used car market.
