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Manheim Used Car Prices Recover For A Flat Jan, CPI Series Likely Lower

US DATA
  • Manheim used vehicle prices ended up flat (0% M/M) in January on a mix, mileage and seasonally adjusted basis, a decent recovery from the first 15 day estimate indicating -1.0% M/M.
  • Initial estimates we’ve seen from analysts point to expectations of a large fall for CPI used car prices in January as they shift lower after lagging wholesale prices in recent months (barring large surprises in Friday’s seasonal revisions).
  • Manheim prices fell 4.8% between Sep-Dec'23, during which time CPI used car prices increased 1.3%.

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