The Manheim Used Vehicle Value Index rose +1.8% MoM and +1.7% YoY in the first half of January, signaling a stronger-than-typical start to wholesale price momentum.

• The MUVVI increased to 209.2, with seasonally adjusted wholesale used-vehicle prices up +1.8% vs December, compared with a typical full-month January seasonal average decline of about -0.2%.

• On a non-adjusted basis, wholesale prices rose +2.1% vs December and were up +1.9% YoY, running ahead of the long-term average full-month January increase of +0.4%.

• MMR prices for the Three-Year-Old Index increased +0.6% in early January, described as stronger than last year and above the long-run average start-of-year pattern.

• MMR retention averaged 100.2% in the first half of January (+0.6 pts vs December; +0.4 pts YoY), indicating firmer pricing relative to market benchmarks.

• Sales conversion averaged 61.9% (+7.7 pts vs December; +3.6 pts YoY), pointing to seasonally strong demand at Manheim auctions.

• YoY segment performance showed overall prices up +1.7%, led by strength in luxury vehicles, while SUVs and compact cars recorded the largest declines.

• EV pricing softened relative to non-EVs: the EV index was -0.2% vs December and +0.1% YoY, while the non-EV index was +1.6% vs December and +1.6% YoY.

• Wholesale supply reached 32 days at end-December (vs 30.6 days end-November; +1.1 days YoY) and remained at 32 days as of Jan. 15, suggesting supply has broadly kept pace with sales early in January.