According to Cox Automotive, Used Vehicle Sales Volumes increased by 7% month-over-month from September 2024 to October 2024. A total of 1.44 million Used Vehicles were sold in the month of October 2024, compared to 1.28 million in October 2023 and 1.33 million in October 2022.
The Manheim Used Vehicle Index, which tracks how much car dealerships pay for Used Cars and provides an overall price trend for Used Cars, increased 0.5% year-over-year to 206.1 through mid-November 2024 on a seasonally adjusted basis. It has trended lower since December 2021 at 257.7.
The last chart outlines the year-over-year price changes for select auto market classes. Prices for Pickups and EVs have declined the most, down 2.0% and 11.0%, respectively, year-over-year through mid-November 2024. Total auto prices increased 0.5% for the same period.
