US wholesale used-car prices edged higher in December, Manheim says
Manheim’s used-vehicle index rose to 205.5 in December, up 0.1% on the month and 0.4% from a year earlier after adjustments.
By David L. Chen · Senior Columnist
· 2 min read
Wholesale used-vehicle prices in the US increased slightly in December, according to Manheim Consulting, with its Used Vehicle Value Index rising to 205.5. The index was 0.1% higher than in November and 0.4% above its level in December 2024 after adjustments for vehicle mix, mileage and seasonality.
The figures point to a modest firming in auction-market pricing at year-end. Calculated Risk, citing Manheim Consulting’s December 2025 trends report, said the index showed used-car prices increased on a seasonally adjusted basis in December and were up 0.4% year over year.
What the index measures
Manheim Consulting’s index is built from completed sales transactions at Manheim’s US auctions. The measure is designed to track wholesale used-vehicle values rather than listed prices or retail selling prices.
The adjustment for mix, mileage and seasonality is central to the reading. Used-vehicle auction prices can shift because the cars being sold are newer, older, higher-mileage or lower-mileage, or because normal seasonal patterns affect buying activity. By adjusting for those factors, the index seeks to show the underlying movement in prices across comparable wholesale transactions.
The December reading of 205.5 therefore indicates that, after those adjustments, wholesale values were little changed from the prior month but slightly higher than a year earlier. Manheim reported the year-over-year gain as 0.4%, while the month-over-month increase was 0.1%.
Market context
Wholesale used-vehicle prices are watched by auto dealers, lenders and economists because auction values help set the cost basis for used-car inventory. Changes in wholesale prices can also inform views on vehicle affordability and the broader auto market, although Manheim’s data specifically reflect completed transactions at its US auctions.
The latest Manheim data show a narrow increase rather than a broad move in either direction. The index’s year-over-year gain was positive, but small, and the monthly rise was also limited. Calculated Risk summarized the report as showing that used-car prices rose in December on a seasonally adjusted basis and were 0.4% higher than a year earlier.
Manheim Consulting released the December 2025 trends update on Jan. 8, according to Calculated Risk.
This story draws on original reporting from Calculated Risk.
