Wholesale pre-owned vehicle prices decreased both on a monthly and yearly basis in May, while sales of used vehicles saw a slight increase. The Manheim Pre-Owned Vehicle Value Index dropped by 0.6% month over month and 12.1% year over year to a total of 197.3, as reported by Cox Automotive. This decline in values represents the third consecutive year of decreases, indicating a stabilization in prices.
FAQ
Q: Why are wholesale used-vehicle values declining?
A: The decrease in values can be attributed to various factors such as market demand, supply of pre-owned vehicles, and economic conditions.
Conclusion
Despite the decline in wholesale pre-owned vehicle values, the slight increase in used-vehicle sales suggests that the market is still active. It will be important to monitor trends in the coming months to see if this stabilization in prices continues.
