The Manheim Used Vehicle Value Index (MUVVI) rose to 212.6, reflecting a 3.6% increase for wholesale used-vehicle prices (adjusted for mix, mileage, and seasonality) in comparison with May 2025, in line with figures released June 5.
The May index is up 0.3% month over month. The long-term average monthly move for May is a rise of 0.9%.
Non-adjusted wholesale vehicle prices are actually up 3.1% yr over yr, and down 1.2% against April. The long-term average monthly move in non-adjusted values is a decrease of 0.3% in May.
“Wholesale value trends proceed to normalize from a robust begin to the yr, as we start to maneuver into summer months and consumers proceed to contend with higher gas prices,” said Jeremy Robb, chief economist at Cox Automotive, in a June 5 news release. “The Manheim Index overall stays higher against last yr, yet it wasn’t as strong as we normally see throughout the month.”
Values just began to normalize and depreciate in May, but the large picture shows good balance in supply and demand, with days’ supply sitting at pretty seasonal levels, even when it stays a bit below last yr, Robb added.
Prices, Retention & Sales Conversion
- MMR prices for the Three-12 months-Old Index decreased 1.3% in May.
- MMR retention averaged 99.5%, up 0.4 percentage points yr over yr and down 0.2 percentage points from April.
- Sales conversion was 59.9% for the period, 4 percentage points higher than essentially the most recent three-year average for May but down 3 percentage points from the April rate.
Takeaway: MMR prices for the Three-12 months-Old Index decreased a typical amount for this era. MMR retention fell lower than is seasonally normal for this time of yr. Meanwhile, sales conversion indicates an extra softening of demand but stays above usual levels for this time of yr.
Segment Performance: 12 months-Over-12 months Price Changes
Overall market prices were up from a yr ago, led by continued EV strength and up to date growth in compact cars.
Takeaway: While the compact automotive segment posted gains above industry average for the primary time in 2026, the story in May was the continued strength of EVs at Manheim. Even with more availability, strong EV performance continues. SUVs, meanwhile, proceed to lag the general market and were the weakest amongst the foremost segments in May.
“Affordability concerns proceed, as we’ve seen higher appreciation in older units at Manheim this yr – a trend we’ve been calling out recently,” Robb said. “Moreover, a few of the most reasonably priced segments are showing the very best gains thus far this yr with compact cars higher by 12.3% in non-adjusted values since December, the very best of any major segment. “
Robb said trends look favorable for wholesale vehicle markets with lower than a month before the top of first-half 2026. Nevertheless, the second half “could bring some volatility as off-lease supply continues to ramp up, which could pressure some segments within the back half,” he added.
Wholesale Supply & Rental Prices
- Wholesale supply: At the top of May, wholesale days’ supply rose to 26 days, higher by 1 days yr over yr and better by 1 day in comparison with April.
- Rental prices: Prices for rental vehicles are higher by 2.4% yr over yr, falling in May, down by 1.6% from April. Rental values on a non-seasonally adjusted basis are 1.7% above 2025’s level but fell 2.7% in May, while having lower average mileage, down 15.1% against last May.
Takeaway: Days’ supply in May was elevated against last yr yet stays inside seasonal boundaries. Rental values fell against April, consistent with an increase in average mileage M/M.
Robb said in May 2025, the wholesale market was still contending with tighter supply from tariff-induced demand, but now sales conversion (dealer demand), still looks good at Manheim. “We proceed to see dealers bidding up the costs of EVs faster than non-EV values at Manheim, consistent with gas prices that remain higher by 38% against last May. EV mix at Manheim holds regular for now, and it’ll proceed to extend over the yr as off-lease EV supply continues to rise.”
This Article First Appeared At www.automotive-fleet.com
