October Wholesale Prices Continued Cooling
In October wholesale prices continued cooling for the fourth consecutive month, which brought the J.D. Power Valuation Services Used Vehicle Price Index down to 202.4. While wholesale prices are softening, they remain elevated from a historical perspective and only 11% lower than their all-time high recorded in December 2021.
Additionally, wholesale prices in October 2022 were 2.5% lower than their level in October 2021. However, on a full year-over-year and year-to-date basis, wholesale prices are still up an average of 19% in 2022 versus 2021.