Manheim's May Index Sees Fourth Consecutive Month Decline to 112.9

ATLANTA – Wholesale used-vehicle prices (mix, mileage, and seasonally adjusted) declined in May for the fourth consecutive month. The Manheim Used Vehicle Value Index now stands at 112.9, which represents a 0.7-percent gain from a year ago and a rise of 10.3 percent from the cyclical trough that occurred in April of 2003.Wholesale used-vehicle prices have fallen 2.9 percent over the past four months on a seasonally adjusted basis.

May’s decline in used-vehicle values was in tune with the softer economy and weaker retail sales. High energy costs, rising interest rates, a slowing housing market, declining equity values, and increased competitive pressure from the new-vehicle market have added a wariness to consumers, according to Manheim.