March 2025 Manheim Used Vehicle Value Index Summary
March 2025 Market Snapshot: What Wholesale Dealers Need to Know from the Manheim Index
In the first half of March 2025, the Manheim Used Vehicle Value Index (MUVVI) declined to 200.8, down 1.1% from February’s full-month reading. For dealers in the wholesale market, this signals a softening in vehicle values—especially compared to the typical seasonal gains expected during the industry’s “Spring Bounce.”
Why This Matters for Dealers
While used vehicle prices often rise in March due to tax refund activity and increased consumer spending, appreciation so far this year is half of what’s typically seen. The vehicle mix is skewing older, likely due to fewer lease returns, and consumer sentiment is dipping amid inflation concerns and tariff chatter.
For dealers trying to protect margins while stocking inventory, now is the time to be selective and price-conscious.
Key March Insights for Wholesale Buyers
- MMR Retention: Averaged 100.7%, showing market prices slightly ahead of model valuations. Laser Appraiser MMR tools already account for the most current valuations during vehicle appraisal.
- Conversion Rates: Hit 66.6%, up 5 points over 2024—wholesale buyer activity remains strong.
- Wholesale Supply: Dropped to 24 days—4 days below long-term averages, tightening inventory.
- EV Depreciation: Electric Vehicles saw higher depreciation, down 4.9% YoY.
Segment Performance Highlights
| Segment | MoM Change | YoY Change |
| Luxury Vehicles | -0.5% | +0.2% |
| SUVs | -0.9% | -0.8% |
| Pickup Trucks | -1.2% | -1.2% |
| Mid-Size Cars | -1.8% | -4.9% |
| Compact Cars | -1.2% | -6.6% |
| EVs | -4.0% | -4.9% |
What Should Dealers Do Now?
- Appraise smarter: Use Laser Appraiser to compare conditions, guidebooks, and comps.
- Watch EVs: Depreciation is volatile—track carefully before buying.
- Act early in the month: With high conversion rates, top inventory moves fast.
- Follow consumer sentiment: Inflation concerns may cool buying behavior fast.
Final Thought: Read the Index Like a Dealer
The Manheim Index isn’t just economic data—it’s a strategic pricing signal for automotive professionals. March’s mid-month results show a cooling market, which means your margins will be won or lost on the buy side.
Use the data to be selective, lean on Laser Appraiser, and keep a close eye on auction trends as we move deeper into spring.
