United States - Manheim Used Vehicle Value Index





United States: Manheim Used Vehicle Value Index

Mnemonic MUVIM.IUSA
Unit Index Jan1995=100, SA
Adjustments Seasonally Adjusted
Monthly 0.14 %
Data Jul 2022 219.6
Jun 2022 219.9

Series Information

Source Manheim Consulting
Release Manheim Used Vehicle Value Index
Frequency Monthly
Start Date 1/31/1995
End Date 7/31/2022

United States: Consumer

Reference Last Previous Units Frequency
Consumer Confidence Jul 2022 95.47 95.85 Index Long term avg=100, SA Monthly
Personal Income 2022 Q2 21,611,020 21,257,227 Mil. USD, SAAR Quarterly
Retail Sales Sep 2018 509,041 508,514 Mil. USD, CDASA Monthly

Release Information

The monthly Manheim Used Vehicle Value Index is independent of underlying shifts in the characteristics of vehicles being sold. It is increasingly recognized by both financial and economic analysts as the premier indicator of pricing trends in the used vehicle market but should not be considered indicative or predictive of any individual remarketer’s results.

The Index is adjusted for mix of vehicle classes, mileage, and seasonality.

Sample

The Index is based on all completed sales transactions at Manheim’s U.S. auctions that fall into the 20 market classes according to the J.D. Power and Associates classification scheme listed below. This results in a useable sample size of over five million transactions annually.

Compact car, Entry
Compact car, Premium
Fullsize car
Luxury car, Entry
Luxury car, luxury sport car
Luxury car, Mid luxury
Luxury car, Premium
Midsize car, Entry
Midsize car, Premium
Pickup, Compact
Pickup, Heavy duty fullsize
Pickup, Lite duty fullsize
Sports car, Premium
Sports car, Sporty
SUV/CUV, Entry
SUV/CUV, Fullsize
SUV/CUV, Luxury
SUV/CUV, Midsize
Van, Compact
Van, Fullsize

Calculation

  • Eliminate outliers
    • Calculate average miles and average price for each model year / make / body. 
    • For each transaction calculate price and mileage deviation. 
    • Outliers are defined as those where both price and mileage are outside of 2.6 standard deviations.
  • Calculate mean sale price and mileage by market class
  • Adjust prices for mileage
    • The per mile adjustment is based on a simple linear regression for price and miles for each market class based on data for the current month.
    • The mileage differential used is: current month’s average mileage by market class minus average mileage for that market class over the past 24 months.
  • Combine prices across market classes
    • The Index is weighted based on a 24-month rolling average of past sales by market class.
    • Note: In the original version of Manheim Index, market class averages were sales-weighted to a total based on fixed weights that represented unit volumes sold in calendar year 1998.
  • Seasonally adjust using the latest Census Bureau method

The Index for each month is generally published on the fifth business day of the following month.

The Index is subject to revisions.