Third-Quarter Depreciation Trends
In the third quarter, used-vehicle depreciation outpaced seasonal expectations, influenced by rising fuel costs and interest rates impacting larger, less efficient vehicles.
According to Cox Automotive’s report on October 7, wholesale used-vehicle prices saw a significant drop in September, leading to a 1.1% decrease in the Manheim Used Vehicle Value Index (MUVVI), which fell to 205.9 when adjusted for mix, mileage, and seasonality. This was the first complete month in which the index recorded a year-over-year decline, finishing 0.6% lower than September 2025. Consequently, Cox Automotive revised its year-end forecast for the MUVVI, now predicting a modest increase of 0.2% instead of the previously anticipated 2%.
This full-month reading continues the downward trend noted earlier in September.
For more detailed insights, check the full report here.
