September 2025 Manheim Index: What Dealers Need to Know

Wholesale used-vehicle prices slipped slightly in September as the Manheim Used Vehicle Value Index (MUVVI) came in at 207.0, down 0.2% from August but still up 2.0% year over year. Non-adjusted prices rose 0.1% MoM and are up 2.1% YoY, indicating depreciation was milder than typical seasonality.

Key September Signals

• MMR retention ~99%: lanes priced near guidebook values.
• Sales conversion 58.3%: stronger than recent September norms.
• Segment YoY mix: Luxury +2.3%; SUVs +0.7%; Trucks −0.3%; Mid-size −0.6%; Compact −6.5%.
• MoM segment shifts: Mid-size +0.2%; Luxury −0.3%; Pickups −0.5%; SUVs −0.9%; Compact −2.0%.

EV vs. Non-EV

EV values continued to outperform year over year, up 6.4% YoY (vs. non-EV +1%). Month over month, EVs gained 0.8% while non-EVs fell 1.0%, highlighting a split market as incentives and shopper interest vary by powertrain.

Retail & Macro Context

• Retail used sales: −3.9% MoM, −2% YoY; days’ supply: 46 (vs. 44 in Aug).
• New-vehicle SAAR: 16.4M; fleet share stable; rental risk prices +2% YoY with lower mileage.
• Consumer confidence: headline measures softened, but fuel prices eased modestly.

Dealer Playbook: Win The Buy, Then The Sale

1. Price to the lane: With retention near MMR, keep appraisals tight and reprice no-sale units quickly.
2. Segment selection: Favor late-model luxury/SUVs; trim exposure to compact and mid-size laggards.
3. Time EV entries: EVs hold a YoY edge—buy on small MoM dips, prioritize clean histories and desirable trims.
4. Prep before you bid: Use auction run lists, condition reports, and live comps to avoid overpaying.
5. Operational speed: Shorten price-refresh cycles with VIN-level analytics and Dealer Studio workflows to reduce days-to-sell.

Want a sharper edge heading into Q4? Laser Appraiser brings real-time valuations, auction integrations, and VIN intelligence together so you can buy smarter, price with confidence, and move inventory faster.