The Manheim Used Vehicle Value Index (MUVVI) fell to 211.9, reflecting a 1.8% increase for wholesale used-vehicle prices (adjusted for mix, mileage, and seasonality) in comparison with April 2025, Cox Automotive said May 11.
The April index is down 1.6% month over month. The long-term average monthly move for April is a rise of 0.7%.
Non-adjusted wholesale vehicle prices are actually up 2.8% 12 months over 12 months, and up 0.4% against March 2026. The long-term average monthly move in non-adjusted values is a rise of 1.3% in April.
The Manheim Index fell in April and non-seasonally adjusted values weren’t quite as strong as normal for this time of 12 months, said Jeremy Robb, chief economist of Cox Automotive in a May 11 news release. Nonetheless, prices usually are not considered week since values are declining at normal rates for this time of 12 months and remain elevated against long-term averages for the top of April, he added.
Robb attributed the drive toward used vehicles this 12 months to a powerful tax refund season, keeping demand and values on the high side.
However the Iranian conflict stands as the massive uncertainty for wholesale used vehicle markets, Robb said. “While energy prices backed off a bit in mid-April, they’ve reaccelerated to the upside: the worth of gas just hit a high for the 12 months and is up 47% because the end of February. Those higher prices are absorbing a number of the extra cash in consumers’ pockets, and currently there’s no end in sight.”
Meaning affordability stays a challenge for vehicle consumers, who’re choosing older models and used EVs, Robb said. “As we get into the summer months, we’ll proceed to see off-lease EV maturities multiply at Manheim, and that will put downward pressure on valuations. For now, they’re strong, and shoppers are considering these vehicles as a viable alternative.”
Prices, Retention & Sales Conversion
- MMR prices for the Three-Yr-Old Index decreased 0.4% in April.
- MMR retention averaged 99.7%, down 0.5 percentage points 12 months over 12 months and down 0.7 percentage points from March.
- Sales conversion was 63.7% for the period, 3.3 percentage points higher than probably the most recent three-year average for April but down 3.5 percentage points from the March rate.
Takeaway: MMR prices for the Three-Yr-Old Index decreased greater than is typical for this era. MMR retention fell barely and is seasonally normal for this time of 12 months. Meanwhile, sales conversion indicates a slight softening of demand but stays above usual levels for this time of 12 months.
Segment Performance: Yr-Over-Yr Price Changes
Overall market prices were up notably from a 12 months ago, led by continued strength in the posh segment, while SUVs lagged considerably.
Takeaway: The luxurious segment continues to point out strong performance, as do EVs, while prices for midsize cars and SUVs lag in comparison with this time last 12 months.
Wholesale Supply & Rental Prices
- Wholesale supply: At the top of April, wholesale days’ supply rose to 25.2 days, higher by 0.9 days 12 months over 12 months and better by 0.3 days in comparison with March.
- Rental prices: Prices for rental vehicles are up 2% 12 months over 12 months but declined in April, falling 3.3% from March. On a non-seasonally adjusted basis, rental values remain 3.2% higher than this time last 12 months, although they dropped 1.4% in April. Average mileage is lower, down 17.4% in comparison with last April.
This Article First Appeared At www.automotive-fleet.com
