2022 December Used Car Guidelines

NOVEMBER 2022 WHOLESALE MARKET UPDATE

USED VEHICLE PRICE INDEX

In November 2022, wholesale prices continued cooling for the fifth consecutive month, which brought the J.D. Power Valuation Services Used Vehicle Price Index down to 200.1. While wholesale prices are softening, they remain elevated from a historical perspective and are only 12% lower than their all-time high recorded in December 2021. Additionally, wholesale prices in November 2022 were 8% lower than their level in November 2021. However, on a full year-over-year and year-to-date basis, wholesale prices are still up an average of 13%.