Wholesale Used-Vehicle Lift in Early August

Wholesale used-vehicle prices edged up 0.5% in early August, driven by demand for three-year-old vehicles. Despite a 4.5% year-over-year decline, market stabilization is evident as segments adjust to economic conditions.

Here are some details from the data:

• Manheim Index rose to 202.6, down 4.5% YOY.
• Three-year-old vehicle prices increased by 0.4%.
• Luxury, midsize cars, SUVs, pickups, and compact cars all saw price declines YOY.
• EV values up 4.4% from July but down 7.2% YOY.
• Wholesale supply at 25 days, flat YOY.
• Consumer sentiment rose slightly; vehicle buying conditions improved marginally.