by Wolf Richter
Wolf Street
Prices are rising again, amid tight supply, sharply reduced flow through the used-vehicle pipeline, and strong demand.
Prices of used vehicle sold at auctions across the US jumped by 1.3% in November from October, seasonally adjusted, continuing an upward trend that started over the summer, according to the Manheim Used Vehicle Value Index, which is adjusted for changes in mix and mileage (red in the chart).
This jump flipped the year-over-year reading to the first increase (+0.2%) since August 2022, after the historic plunge during which prices gave up nearly 50% of the pandemic spike, with a bottom in mid-2024. Now prices have turned around.