Wholesale used-vehicle prices decreased 3.0% in April from March. The Manheim Used Vehicle Value Index (MUVVI) dropped to 230.8, down 4.4% from a year ago.
“While values increased 8.6% through the first quarter from December, the market has reversed course in April, with our monthly figures showing a month-over-month decline for the first time in 2023,” said Chris Frey, senior manager of Economic and Industry Insights for Cox Automotive. “Values in April also continue to be lower year over year. We’ve experienced eight straight months of year-over-year declines, averaging 8.3%, and it’s likely not over yet.”