ATLANTA - Wholesale used vehicle prices (mix, mileage, and seasonally adjusted) declined 0.6% in April. Despite three consecutive monthly declines, the Manheim Used Vehicle Value Index is up 1.5% from a year ago and up 11.5% from the cyclical trough that occurred in April of 2003.

The modest rise and fall of wholesale prices over the past six months is a reflection of a stable retail market, strong wage growth (tempered somewhat by rising energy costs), and continued pressure from a competitive new vehicle market.