The Manheim Used Vehicle Value Index fell -0.2% MoM and rose +2.9% YoY in early February, showing a slight seasonal dip amid firm demand.

• The MUVVI declined -0.2% MoM (seasonally adjusted) but non-adjusted prices rose +1.9% MoM and +3.1% YoY, exceeding the typical +0.9% February increase and indicating underlying price strength.

• MMR Three-Year-Old Index prices increased +1.3% MoM equivalent in early February, with retention at 100.3% (+0.3 pts MoM; +0.3 pts YoY), pointing to lower-than-normal depreciation.

• Sales conversion averaged 62.5% (+2.4 pts MoM; +2.7 pts YoY), showing stronger auction demand relative to recent months and long-term norms.

• Overall vehicle prices rose +2.9% YoY, led by continued gains in the luxury segment while cars recorded the largest declines.

• EV prices increased +0.7% MoM and +1.7% YoY, while non-EV prices fell -0.2% MoM but rose +2.5% YoY, indicating firming EV values and slight cooling in non-EVs.

• Wholesale supply rose to 28 days (from 27 days end-January; flat YoY vs 2025), suggesting inventory slightly outpaced sales after tightening previously.