Wholesale used-vehicle prices declined -1.6% MoM on a seasonally adjusted basis in the first half of October, while rising +0.4% YoY, signaling faster-than-normal depreciation as late-September weakness extended into mid-month.

• The Manheim Used Vehicle Value Index (MUVVI) fell to 203.6, reflecting softer wholesale demand and a smaller-than-usual seasonal adjustment effect.

• On a non-adjusted basis, prices fell -3.4% MoM but were still +0.6% higher YoY, with October’s typical full-month decline averaging -1.5%.

• The Three-Year-Old Index dropped -1.2% MoM, steeper than the usual -0.7% decline for this point in October.

• MMR Retention averaged 98.9%, down -0.1 pt from late September and -0.1% YoY, suggesting vehicles sold slightly below modeled valuations.

• The daily sales conversion rate averaged 55.9%, down -1.5 pts from September but above last year’s 54.8%, showing moderate but softer dealer demand.

• Segment performance YoY: luxury +2.9%, SUVs -0.3%, trucks -1.6%, mid-size cars -3.3%, compact cars -5.0%. MoM, compact cars rose +1.6% while mid-size cars fell -2.3%.

• EV prices rose +3.5% YoY but dropped -3.4% MoM after the expiration of tax credits; non-EVs gained +0.3% YoY and fell -1.9% MoM.

• Wholesale supply stood at 27 days as of mid-October, up one day from September but two days lower than a year ago, indicating inventories remain tighter than typical for this period.