Wholesale used-vehicle prices ticked up in June compared to May—with an even bigger increase year-over-year.
First things first: Cox Automotive reports that its Manheim Used Vehicle Value Index (MUVVI) increased to 208.5, marking a 6.3% year-over-year surge and a 1.6% increase above May levels.
The seasonal adjustment forced the index higher in the month—with non-seasonally adjusted values dropping more than usual post the tariff announcement.
The non-adjusted price in June decreased 1.1% compared to May—making the unadjusted average price higher by 5.1% year over year.
What they’re saying: “Wholesale appreciation trends have been more volatile over Q2 as tariffs really impacted new sales and supply, which impacted the used marketplace as well,” said “The Manheim index has generally been rising since last June, and we typically see the strongest changes for the year in the second quarter as the ‘spring bounce’ comes to an end,” said Jeremy Robb, senior director of Economic and Industry Insights at Cox Automotive.
Why it matters: The used-vehicle market remains strong, even as the new vehicle segment faces pricing and supply challenges—indicating how key it is for dealerships to prioritize and optimize their used-vehicle operations.
Between the lines: Nearly every major wholesale used-vehicle market posted higher seasonally adjusted prices year-over-year in June—with the luxury segment leading the way and compact cars performing the worst.
Seasonally adjusted prices for the luxury segment rose for the fifth month in a row, increasing by 8.8%—with SUVs coming in second, increasing by 6.0% over the last year.
Wholesale adjusted prices for used mid-size sedans and trucks increased 2.8%—while compact cars fell 0.1% compared to last year.
All used vehicle segments were higher in June against May—with the luxury segment rising by 1.2%; trucks by 1.1%; compact cars and SUVs by 1.0%; and mid-size sedans by 0.8%.
Digging deeper: The used EV market values are showing major gains—a sharp turn from the second half of 2023 and the first half of 2024, when the segment reached one of its lowest points.
In June, EV values rose 12.1% year over year—while non-EVs increased by 5.6%.
Month over month, EV values ticked up 1.5%—whereas non-EV values rose 1.4%.
Bottom line: Used-vehicle operations are a key profit center in the current market. With wholesale prices rising—especially for EVs and luxury vehicles—dealers should double down on sourcing, pricing, and merchandising used inventory strategically and prioritize used car operations such as reconditioning and digital retailing.
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