Wholesale appreciation trends have been more volatile over Q2 as tariffs affected new sales and supply, and the used marketplace.
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A mixed sales bag included gains at dealer auctions from trade-ins, a spike in used EV sales, and a spurt in 1–2-year-old vehicles from rental fleets.
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While the market digests the impact of tariffs, it could see slightly higher levels of wholesale depreciation over the summer.
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Moving electric vehicles through consignor and auction channels requires a better understanding of their unique attributes and potential.
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Auctions in April saw spikes in sales of 1–2-year-old vehicles, off-rental vehicles, and consumer trade-ins.
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Consumer confidence plunges worse than expected across leading indexes after tariffs and added import duties seep into automotive markets.
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Meanwhile, off-rental units spike commercial vehicle sales by 40% year-over-year.
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The tariff announcements have spurred activity that suggests the wholesale market will see a sizeable increase in the Manheim Index in April.
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Industry data and economic experts emphasize the need to focus on the facts and long-term trend lines as media coverage and political messaging may not always interpret the information accurately.
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CAR 2025: A stirring combination of lower off-lease supply, constrained inventory, rental-fleet right-sizing, muted wholesale prices, and record EV sales are all contributing to an overall market still trying to catch up to pre-pandemic levels.
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