The Manheim Used Value Index fell 10.3% with respect to 1 year ago. The decline is 2.0% if we compare it with the month of September.
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The Manheim Used Vehicle Value Index reached its highest in January 2022 and continues to decrease, it is down more than 15% from the peak. The most plausible explanation is that the Federal Reserve's aggressive interest rate increases are suppressing demand.
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