The Used Car Market Remains in Chaos

Manheim, which is the biggest wholesale car auction house in the U.S., publishes a used car value index every month based on its auctions, which showed Monday that wholesale used car prices went up 0.8 percent in December, compared to November, but went down 14.9 percent compared to December last year. That latter figure, Manheim says, is the “largest annualized decline in the series history,” which goes back to the 1990s. This might lead one…