The Manheim Used Vehicle Value Index ended October at 121.9, a full 1% higher than it was at the close of September.
The increase was in part due to dealers not having much leftover stock which reduced the need for sellers of used cars to offer many discounts or other incentives. The index indicates that dealers and manufactures have had a nice model-year transistion.
The monthly rise in the Manheim Index was especially welcomed after Hurricane Sandy had reduced sales a great deal in the last few days of the month on the East coast. Dealers in storm-affected area only had three weekends to move units.