Wall Street Scans the Lots as Used Cars Prod Inflation

The Manheim Used Vehicle Value Index, an obscure tracker of wholesale used-car prices, has become closely watched by the finance world’s high rollers.

The hottest ride on Wall Street right now is the humble used car.

The cost of clunkers and dealership trade-ins has suddenly become market-moving information, with analysts, economists and traders fixating on an obscure indicator called the Manheim Used Vehicle Value Index.

“I’ve never spent so much time looking at it,” said Robert Rosener, a senior U.S. economist at Morgan Stanley. “I don’t think I’ve ever spent so much time talking about used car prices in my life, either.”