Average wholesale auction prices enter 2024 in an ongoing, downward trend, but that trend could flatten out over time, according to the December Manheim Used Vehicle Value Index.

Prices are still in a downward trend, reports Cox Automotive.
By Jim Henry, Wards Auto
Average wholesale auction prices enter 2024 in an ongoing, downward trend, but that trend could flatten out over time, according to the December Manheim Used Vehicle Value Index. For December 2023, the Manheim Index was 204.0. That’s down 7% vs. December 2022, and was the 16th month in a row the index was below the year-ago month.
The corresponding seasonally adjusted average price was $18,657 in December, down 7% from $20,060 a year earlier, Manheim says.
For dealers, affordability and availability should improve this year, and that should stimulate demand.
“That’s not necessarily all good news for dealers,” Charlie Chesbrough, Cox Automotive senior economist, says in a recent webinar. That’s because profit per unit is likely to shrink in proportion.
The Manheim Index is designed to be a single measure that tracks used-vehicle wholesale price changes, weighted for a changing mix of product segments and mileage, and seasonally adjusted. The index is calculated relative to a starting point, where January 1997 equals 100.
It's important to note that while the Manheim Index has been declining, it’s still much higher than it was before the COVID-19 pandemic and supply-chain problems cut into new-car production, and the resulting shortage drove newand used-car prices higher.
“It’s still 33% higher than the end of 2019,” says Jeremy Robb, senior director, Economic and Industry Insights for Cox Automotive. Auction firm Manheim is a Cox Automotive company.
It’s early in 2024, but Cox Automotive forecasts that with some ups and downs, the Manheim Index will end the year roughly flat to up slightly, vs. the end of 2023. Specifically, the newly issued Manheim Index forecast for December 2024 is an increase of just 0.5%.
That’s a big reversal from minus-7% in 2023, but it’s still a relatively bearish forecast for 2024, Robb says. That’s because in an average year, the Manheim Index tends to increase around 2% because of inflation. “A rise of less than 2% is less than normal,” he says.
What’s holding used values down? Affordability – read, interest rates. While interest rates on auto loans are starting to come down, they’re still high enough to curb some consumer demand, especially for used-car shoppers and borrowers with subprime credit, says Jonathan Smoke, Cox Automotive chief economist.
Cox reports the average new-vehicle loan rate in December was 9.2%, vs. 8.4% at the beginning of 2023; the average used-vehicle loan was 13.8%, up from around 12%.
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Please view the example letters to representatives and senators below. Use the Copy to Clipboard function to easily compose and send the letters. You may also personalize the letters once copied and pasted into your desired media (letter, email, etc.).
Dear Representative ___:
As an independent automobile dealer from the state of ___ and your constituent, I am writing to urge you to cosponsor H.R. 1566, the Right to Equitable and Professional Auto Industry Repair (REPAIR) Act. This bipartisan bill was introduced by Representatives Neal Dunn (R-FL) and Marie Gluesenkamp Perez (D-WA) and currently has 30 cosponsors.
As the cost of vehicle ownership and maintenance continues to rise, the REPAIR Act comes at a critical moment. This legislation removes unnecessary barriers and ensures independent repair shops can access essential repair data, compatible aftermarket parts, training, and diagnostic tools. For independent automobile dealers like me, this means being able to efficiently recondition vehicles before sale and provide affordable, ongoing repairs throughout a vehicle's life. These efficiencies translate into real savings for our customers, many of whom are working-class individuals and families who rely on their vehicles for work, school, and daily responsibilities. This is especially true for our rural customers, who deserve access to timely, affordable repairs close to home.
Modern vehicles are increasingly complex and dependent on data. Yet for too long, Original Equipment Manufacturers (OEMs) have controlled access to this critical information, selectively deciding who can use it and under what conditions. This control extends to aftermarket parts, often forcing consumers to seek repairs only at authorized dealerships. These practices reduce consumer choice, stifle competition, and undermine the free-market principles that support small businesses and local economies across the state of ___.
Your constituents and my customers deserve the freedom to choose where and by whom their vehicles are repaired. Equal access to tools and information ensures safe, cost-effective, and accessible repairs. It fosters competition, lowers prices, and strengthens small businesses like mine. The REPAIR Act strikes the right balance between protecting innovation, ensuring safety, and upholding consumer rights.
This important legislation is critical to the livelihoods of independent automobile dealers across the state of ___ and urge you to consider cosponsoring it. Thank you for your time and attention.
Sincerely,
Dear Senator ___:
As an independent automobile dealer from the state of ___, I am writing to urge you to cosponsor S. 1379, the Right to Equitable and Professional Auto Industry Repair (REPAIR) Act. This bipartisan bill was introduced by Senators Ben Ray Luján (D-NM) and Josh Howley (R-MO) and currently has six cosponsors.
As the cost of vehicle ownership and maintenance continues to rise, the REPAIR Act comes at a critical moment. This legislation removes unnecessary barriers and ensures independent repair shops can access essential repair data, compatible aftermarket parts, training, and diagnostic tools. For independent automobile dealers like me, this means being able to efficiently recondition vehicles before sale and provide affordable, ongoing repairs throughout a vehicle's life. These efficiencies translate into real savings for our customers, many of whom are working-class individuals and families who rely on their vehicles for work, school, and daily responsibilities. This is especially true for our rural customers, who deserve access to timely, affordable repairs close to home.
Modern vehicles are increasingly complex and dependent on data. Yet for too long, Original Equipment Manufacturers (OEMs) have controlled access to this critical information, selectively deciding who can use it and under what conditions. This control extends to aftermarket parts, often forcing consumers to seek repairs only at authorized dealerships. These practices reduce consumer choice, stifle competition, and undermine the free-market principles that support small businesses and local economies across the state of ___.
Your constituents and my customers deserve the freedom to choose where and by whom their vehicles are repaired. Equal access to tools and information ensures safe, cost-effective, and accessible repairs. It fosters competition, lowers prices, and strengthens small businesses like mine. The REPAIR Act strikes the right balance between protecting innovation, ensuring safety, and upholding consumer rights.
This important legislation is critical to the livelihoods of independent automobile dealers across the state of ___ and urge you to consider cosponsoring it. Thank you for your time and attention.
Sincerely,
Please view the example letters to representatives and senators below. Use the Copy to Clipboard function to easily compose and send the letters. You may also personalize the letters once copied and pasted into your desired media (letter, email, etc.).
Dear Representative ___:
As an independent automobile dealer from the state of ___ and your constituent, I am writing to urge you to cosponsor H.R. 1566, the Right to Equitable and Professional Auto Industry Repair (REPAIR) Act. This bipartisan bill was introduced by Representatives Neal Dunn (R-FL) and Marie Gluesenkamp Perez (D-WA) and currently has 30 cosponsors.
As the cost of vehicle ownership and maintenance continues to rise, the REPAIR Act comes at a critical moment. This legislation removes unnecessary barriers and ensures independent repair shops can access essential repair data, compatible aftermarket parts, training, and diagnostic tools. For independent automobile dealers like me, this means being able to efficiently recondition vehicles before sale and provide affordable, ongoing repairs throughout a vehicle's life. These efficiencies translate into real savings for our customers, many of whom are working-class individuals and families who rely on their vehicles for work, school, and daily responsibilities. This is especially true for our rural customers, who deserve access to timely, affordable repairs close to home.
Modern vehicles are increasingly complex and dependent on data. Yet for too long, Original Equipment Manufacturers (OEMs) have controlled access to this critical information, selectively deciding who can use it and under what conditions. This control extends to aftermarket parts, often forcing consumers to seek repairs only at authorized dealerships. These practices reduce consumer choice, stifle competition, and undermine the free-market principles that support small businesses and local economies across the state of ___.
Your constituents and my customers deserve the freedom to choose where and by whom their vehicles are repaired. Equal access to tools and information ensures safe, cost-effective, and accessible repairs. It fosters competition, lowers prices, and strengthens small businesses like mine. The REPAIR Act strikes the right balance between protecting innovation, ensuring safety, and upholding consumer rights.
This important legislation is critical to the livelihoods of independent automobile dealers across the state of ___ and urge you to consider cosponsoring it. Thank you for your time and attention.
Sincerely,
Dear Senator ___:
As an independent automobile dealer from the state of ___, I am writing to urge you to cosponsor S. 1379, the Right to Equitable and Professional Auto Industry Repair (REPAIR) Act. This bipartisan bill was introduced by Senators Ben Ray Luján (D-NM) and Josh Howley (R-MO) and currently has six cosponsors.
As the cost of vehicle ownership and maintenance continues to rise, the REPAIR Act comes at a critical moment. This legislation removes unnecessary barriers and ensures independent repair shops can access essential repair data, compatible aftermarket parts, training, and diagnostic tools. For independent automobile dealers like me, this means being able to efficiently recondition vehicles before sale and provide affordable, ongoing repairs throughout a vehicle's life. These efficiencies translate into real savings for our customers, many of whom are working-class individuals and families who rely on their vehicles for work, school, and daily responsibilities. This is especially true for our rural customers, who deserve access to timely, affordable repairs close to home.
Modern vehicles are increasingly complex and dependent on data. Yet for too long, Original Equipment Manufacturers (OEMs) have controlled access to this critical information, selectively deciding who can use it and under what conditions. This control extends to aftermarket parts, often forcing consumers to seek repairs only at authorized dealerships. These practices reduce consumer choice, stifle competition, and undermine the free-market principles that support small businesses and local economies across the state of ___.
Your constituents and my customers deserve the freedom to choose where and by whom their vehicles are repaired. Equal access to tools and information ensures safe, cost-effective, and accessible repairs. It fosters competition, lowers prices, and strengthens small businesses like mine. The REPAIR Act strikes the right balance between protecting innovation, ensuring safety, and upholding consumer rights.
This important legislation is critical to the livelihoods of independent automobile dealers across the state of ___ and urge you to consider cosponsoring it. Thank you for your time and attention.
Sincerely,
Please view the example letters to representatives and senators below. Use the Copy to Clipboard function to easily compose and send the letters. You may also personalize the letters once copied and pasted into your desired media (letter, email, etc.).
Dear Representative ___:
As an independent automobile dealer from the state of ___ and your constituent, I am writing to urge you to cosponsor H.R. 1566, the Right to Equitable and Professional Auto Industry Repair (REPAIR) Act. This bipartisan bill was introduced by Representatives Neal Dunn (R-FL) and Marie Gluesenkamp Perez (D-WA) and currently has 30 cosponsors.
As the cost of vehicle ownership and maintenance continues to rise, the REPAIR Act comes at a critical moment. This legislation removes unnecessary barriers and ensures independent repair shops can access essential repair data, compatible aftermarket parts, training, and diagnostic tools. For independent automobile dealers like me, this means being able to efficiently recondition vehicles before sale and provide affordable, ongoing repairs throughout a vehicle's life. These efficiencies translate into real savings for our customers, many of whom are working-class individuals and families who rely on their vehicles for work, school, and daily responsibilities. This is especially true for our rural customers, who deserve access to timely, affordable repairs close to home.
Modern vehicles are increasingly complex and dependent on data. Yet for too long, Original Equipment Manufacturers (OEMs) have controlled access to this critical information, selectively deciding who can use it and under what conditions. This control extends to aftermarket parts, often forcing consumers to seek repairs only at authorized dealerships. These practices reduce consumer choice, stifle competition, and undermine the free-market principles that support small businesses and local economies across the state of ___.
Your constituents and my customers deserve the freedom to choose where and by whom their vehicles are repaired. Equal access to tools and information ensures safe, cost-effective, and accessible repairs. It fosters competition, lowers prices, and strengthens small businesses like mine. The REPAIR Act strikes the right balance between protecting innovation, ensuring safety, and upholding consumer rights.
This important legislation is critical to the livelihoods of independent automobile dealers across the state of ___ and urge you to consider cosponsoring it. Thank you for your time and attention.
Sincerely,
Dear Senator ___:
As an independent automobile dealer from the state of ___, I am writing to urge you to cosponsor S. 1379, the Right to Equitable and Professional Auto Industry Repair (REPAIR) Act. This bipartisan bill was introduced by Senators Ben Ray Luján (D-NM) and Josh Howley (R-MO) and currently has six cosponsors.
As the cost of vehicle ownership and maintenance continues to rise, the REPAIR Act comes at a critical moment. This legislation removes unnecessary barriers and ensures independent repair shops can access essential repair data, compatible aftermarket parts, training, and diagnostic tools. For independent automobile dealers like me, this means being able to efficiently recondition vehicles before sale and provide affordable, ongoing repairs throughout a vehicle's life. These efficiencies translate into real savings for our customers, many of whom are working-class individuals and families who rely on their vehicles for work, school, and daily responsibilities. This is especially true for our rural customers, who deserve access to timely, affordable repairs close to home.
Modern vehicles are increasingly complex and dependent on data. Yet for too long, Original Equipment Manufacturers (OEMs) have controlled access to this critical information, selectively deciding who can use it and under what conditions. This control extends to aftermarket parts, often forcing consumers to seek repairs only at authorized dealerships. These practices reduce consumer choice, stifle competition, and undermine the free-market principles that support small businesses and local economies across the state of ___.
Your constituents and my customers deserve the freedom to choose where and by whom their vehicles are repaired. Equal access to tools and information ensures safe, cost-effective, and accessible repairs. It fosters competition, lowers prices, and strengthens small businesses like mine. The REPAIR Act strikes the right balance between protecting innovation, ensuring safety, and upholding consumer rights.
This important legislation is critical to the livelihoods of independent automobile dealers across the state of ___ and urge you to consider cosponsoring it. Thank you for your time and attention.
Sincerely,
Please view the example letters to representatives and senators below. Use the Copy to Clipboard function to easily compose and send the letters. You may also personalize the letters once copied and pasted into your desired media (letter, email, etc.).
Dear Representative ___:
As an independent automobile dealer from the state of ___ and your constituent, I am writing to urge you to cosponsor H.R. 1566, the Right to Equitable and Professional Auto Industry Repair (REPAIR) Act. This bipartisan bill was introduced by Representatives Neal Dunn (R-FL) and Marie Gluesenkamp Perez (D-WA) and currently has 30 cosponsors.
As the cost of vehicle ownership and maintenance continues to rise, the REPAIR Act comes at a critical moment. This legislation removes unnecessary barriers and ensures independent repair shops can access essential repair data, compatible aftermarket parts, training, and diagnostic tools. For independent automobile dealers like me, this means being able to efficiently recondition vehicles before sale and provide affordable, ongoing repairs throughout a vehicle's life. These efficiencies translate into real savings for our customers, many of whom are working-class individuals and families who rely on their vehicles for work, school, and daily responsibilities. This is especially true for our rural customers, who deserve access to timely, affordable repairs close to home.
Modern vehicles are increasingly complex and dependent on data. Yet for too long, Original Equipment Manufacturers (OEMs) have controlled access to this critical information, selectively deciding who can use it and under what conditions. This control extends to aftermarket parts, often forcing consumers to seek repairs only at authorized dealerships. These practices reduce consumer choice, stifle competition, and undermine the free-market principles that support small businesses and local economies across the state of ___.
Your constituents and my customers deserve the freedom to choose where and by whom their vehicles are repaired. Equal access to tools and information ensures safe, cost-effective, and accessible repairs. It fosters competition, lowers prices, and strengthens small businesses like mine. The REPAIR Act strikes the right balance between protecting innovation, ensuring safety, and upholding consumer rights.
This important legislation is critical to the livelihoods of independent automobile dealers across the state of ___ and urge you to consider cosponsoring it. Thank you for your time and attention.
Sincerely,
Dear Senator ___:
As an independent automobile dealer from the state of ___, I am writing to urge you to cosponsor S. 1379, the Right to Equitable and Professional Auto Industry Repair (REPAIR) Act. This bipartisan bill was introduced by Senators Ben Ray Luján (D-NM) and Josh Howley (R-MO) and currently has six cosponsors.
As the cost of vehicle ownership and maintenance continues to rise, the REPAIR Act comes at a critical moment. This legislation removes unnecessary barriers and ensures independent repair shops can access essential repair data, compatible aftermarket parts, training, and diagnostic tools. For independent automobile dealers like me, this means being able to efficiently recondition vehicles before sale and provide affordable, ongoing repairs throughout a vehicle's life. These efficiencies translate into real savings for our customers, many of whom are working-class individuals and families who rely on their vehicles for work, school, and daily responsibilities. This is especially true for our rural customers, who deserve access to timely, affordable repairs close to home.
Modern vehicles are increasingly complex and dependent on data. Yet for too long, Original Equipment Manufacturers (OEMs) have controlled access to this critical information, selectively deciding who can use it and under what conditions. This control extends to aftermarket parts, often forcing consumers to seek repairs only at authorized dealerships. These practices reduce consumer choice, stifle competition, and undermine the free-market principles that support small businesses and local economies across the state of ___.
Your constituents and my customers deserve the freedom to choose where and by whom their vehicles are repaired. Equal access to tools and information ensures safe, cost-effective, and accessible repairs. It fosters competition, lowers prices, and strengthens small businesses like mine. The REPAIR Act strikes the right balance between protecting innovation, ensuring safety, and upholding consumer rights.
This important legislation is critical to the livelihoods of independent automobile dealers across the state of ___ and urge you to consider cosponsoring it. Thank you for your time and attention.
Sincerely,
Please view the example letters to representatives and senators below. Use the Copy to Clipboard function to easily compose and send the letters. You may also personalize the letters once copied and pasted into your desired media (letter, email, etc.).
Dear Representative ___:
As an independent automobile dealer from the state of ___ and your constituent, I am writing to urge you to cosponsor H.R. 1566, the Right to Equitable and Professional Auto Industry Repair (REPAIR) Act. This bipartisan bill was introduced by Representatives Neal Dunn (R-FL) and Marie Gluesenkamp Perez (D-WA) and currently has 30 cosponsors.
As the cost of vehicle ownership and maintenance continues to rise, the REPAIR Act comes at a critical moment. This legislation removes unnecessary barriers and ensures independent repair shops can access essential repair data, compatible aftermarket parts, training, and diagnostic tools. For independent automobile dealers like me, this means being able to efficiently recondition vehicles before sale and provide affordable, ongoing repairs throughout a vehicle's life. These efficiencies translate into real savings for our customers, many of whom are working-class individuals and families who rely on their vehicles for work, school, and daily responsibilities. This is especially true for our rural customers, who deserve access to timely, affordable repairs close to home.
Modern vehicles are increasingly complex and dependent on data. Yet for too long, Original Equipment Manufacturers (OEMs) have controlled access to this critical information, selectively deciding who can use it and under what conditions. This control extends to aftermarket parts, often forcing consumers to seek repairs only at authorized dealerships. These practices reduce consumer choice, stifle competition, and undermine the free-market principles that support small businesses and local economies across the state of ___.
Your constituents and my customers deserve the freedom to choose where and by whom their vehicles are repaired. Equal access to tools and information ensures safe, cost-effective, and accessible repairs. It fosters competition, lowers prices, and strengthens small businesses like mine. The REPAIR Act strikes the right balance between protecting innovation, ensuring safety, and upholding consumer rights.
This important legislation is critical to the livelihoods of independent automobile dealers across the state of ___ and urge you to consider cosponsoring it. Thank you for your time and attention.
Sincerely,
Dear Senator ___:
As an independent automobile dealer from the state of ___, I am writing to urge you to cosponsor S. 1379, the Right to Equitable and Professional Auto Industry Repair (REPAIR) Act. This bipartisan bill was introduced by Senators Ben Ray Luján (D-NM) and Josh Howley (R-MO) and currently has six cosponsors.
As the cost of vehicle ownership and maintenance continues to rise, the REPAIR Act comes at a critical moment. This legislation removes unnecessary barriers and ensures independent repair shops can access essential repair data, compatible aftermarket parts, training, and diagnostic tools. For independent automobile dealers like me, this means being able to efficiently recondition vehicles before sale and provide affordable, ongoing repairs throughout a vehicle's life. These efficiencies translate into real savings for our customers, many of whom are working-class individuals and families who rely on their vehicles for work, school, and daily responsibilities. This is especially true for our rural customers, who deserve access to timely, affordable repairs close to home.
Modern vehicles are increasingly complex and dependent on data. Yet for too long, Original Equipment Manufacturers (OEMs) have controlled access to this critical information, selectively deciding who can use it and under what conditions. This control extends to aftermarket parts, often forcing consumers to seek repairs only at authorized dealerships. These practices reduce consumer choice, stifle competition, and undermine the free-market principles that support small businesses and local economies across the state of ___.
Your constituents and my customers deserve the freedom to choose where and by whom their vehicles are repaired. Equal access to tools and information ensures safe, cost-effective, and accessible repairs. It fosters competition, lowers prices, and strengthens small businesses like mine. The REPAIR Act strikes the right balance between protecting innovation, ensuring safety, and upholding consumer rights.
This important legislation is critical to the livelihoods of independent automobile dealers across the state of ___ and urge you to consider cosponsoring it. Thank you for your time and attention.
Sincerely,
Please view the example letters to representatives and senators below. Use the Copy to Clipboard function to easily compose and send the letters. You may also personalize the letters once copied and pasted into your desired media (letter, email, etc.).
Dear Representative ___:
As an independent automobile dealer from the state of ___ and your constituent, I am writing to urge you to cosponsor H.R. 1566, the Right to Equitable and Professional Auto Industry Repair (REPAIR) Act. This bipartisan bill was introduced by Representatives Neal Dunn (R-FL) and Marie Gluesenkamp Perez (D-WA) and currently has 30 cosponsors.
As the cost of vehicle ownership and maintenance continues to rise, the REPAIR Act comes at a critical moment. This legislation removes unnecessary barriers and ensures independent repair shops can access essential repair data, compatible aftermarket parts, training, and diagnostic tools. For independent automobile dealers like me, this means being able to efficiently recondition vehicles before sale and provide affordable, ongoing repairs throughout a vehicle's life. These efficiencies translate into real savings for our customers, many of whom are working-class individuals and families who rely on their vehicles for work, school, and daily responsibilities. This is especially true for our rural customers, who deserve access to timely, affordable repairs close to home.
Modern vehicles are increasingly complex and dependent on data. Yet for too long, Original Equipment Manufacturers (OEMs) have controlled access to this critical information, selectively deciding who can use it and under what conditions. This control extends to aftermarket parts, often forcing consumers to seek repairs only at authorized dealerships. These practices reduce consumer choice, stifle competition, and undermine the free-market principles that support small businesses and local economies across the state of ___.
Your constituents and my customers deserve the freedom to choose where and by whom their vehicles are repaired. Equal access to tools and information ensures safe, cost-effective, and accessible repairs. It fosters competition, lowers prices, and strengthens small businesses like mine. The REPAIR Act strikes the right balance between protecting innovation, ensuring safety, and upholding consumer rights.
This important legislation is critical to the livelihoods of independent automobile dealers across the state of ___ and urge you to consider cosponsoring it. Thank you for your time and attention.
Sincerely,
Dear Senator ___:
As an independent automobile dealer from the state of ___, I am writing to urge you to cosponsor S. 1379, the Right to Equitable and Professional Auto Industry Repair (REPAIR) Act. This bipartisan bill was introduced by Senators Ben Ray Luján (D-NM) and Josh Howley (R-MO) and currently has six cosponsors.
As the cost of vehicle ownership and maintenance continues to rise, the REPAIR Act comes at a critical moment. This legislation removes unnecessary barriers and ensures independent repair shops can access essential repair data, compatible aftermarket parts, training, and diagnostic tools. For independent automobile dealers like me, this means being able to efficiently recondition vehicles before sale and provide affordable, ongoing repairs throughout a vehicle's life. These efficiencies translate into real savings for our customers, many of whom are working-class individuals and families who rely on their vehicles for work, school, and daily responsibilities. This is especially true for our rural customers, who deserve access to timely, affordable repairs close to home.
Modern vehicles are increasingly complex and dependent on data. Yet for too long, Original Equipment Manufacturers (OEMs) have controlled access to this critical information, selectively deciding who can use it and under what conditions. This control extends to aftermarket parts, often forcing consumers to seek repairs only at authorized dealerships. These practices reduce consumer choice, stifle competition, and undermine the free-market principles that support small businesses and local economies across the state of ___.
Your constituents and my customers deserve the freedom to choose where and by whom their vehicles are repaired. Equal access to tools and information ensures safe, cost-effective, and accessible repairs. It fosters competition, lowers prices, and strengthens small businesses like mine. The REPAIR Act strikes the right balance between protecting innovation, ensuring safety, and upholding consumer rights.
This important legislation is critical to the livelihoods of independent automobile dealers across the state of ___ and urge you to consider cosponsoring it. Thank you for your time and attention.
Sincerely,