Wholesale used-vehicle prices were down in May compared to April. The Manheim Used Vehicle Value Index fell to 197.3, a decline of 12.1% from a year ago.
“While declines in used-vehicle values overall were a bit muted in the first half of May, they picked up in the latter half of the month,” said Jeremy Robb, senior director of Economic and Industry Insights at Cox Automotive. “It’s seasonally normal to get some weakening in the market over the Memorial Day weekend; but this month, we experienced a little more softening in the final week. As we move into summer, used retail days’ supply remains lower than last year, which could bring in more buyers at Manheim in the coming weeks.”
