The Manheim Used Vehicle Value Index jumped +2.4% MoM and +2.4% YoY to 210.5 in January, signaling a sharp early-year acceleration in wholesale used-vehicle prices.

• On a seasonally adjusted basis, wholesale used-vehicle prices rose +2.4% MoM, far above the long-term average January move of -0.2%, indicating unusually strong monthly price momentum.
• On a non-adjusted basis, wholesale prices increased +2.7% MoM and +2.5% YoY, exceeding the typical +0.4% January gain and confirming broad-based price strength.
• MMR prices for the Three-Year-Old Index climbed +1.5% MoM, rising more than is typical for this time of year and contributing to the overall index surge.
• MMR retention averaged 100.0%, up +0.4 ppts MoM and +20 bps YoY, remaining seasonally normal while showing slightly firmer pricing versus expectations.
• Sales conversion reached 60.7%, up +6.5 ppts MoM and 3.2 ppts above the three-year January average, pointing to stronger-than-usual wholesale demand.

• Year-over-year segment performance showed most categories slightly higher than a year ago, led by luxury vehicles and non-EVs, while compact and midsize cars continued to lag.

• The EV index rose +0.4% MoM and +0.8% YoY, while the non-EV index increased +2.2% MoM and +2.2% YoY, indicating stronger price growth outside the EV segment.
• Wholesale days’ supply fell to 26.6 days (-5.1 days MoM; -0.3 days YoY), remaining below historical January norms and consistent with tighter market conditions.
• Rental vehicle prices slipped -0.3% MoM but were up +2.4% YoY, with non-adjusted values up +0.6% MoM and +2.7% YoY, supported by sharply lower average mileage (-19% YoY).