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.
