The higher prices at used retail reflect strong wholesale values earlier in the spring, particularly for older, more affordable vehicles.
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Cox Automotive is forecasting retail used vehicle sales in 2025 to reach 20.1 million, an increase of about 1.2% compared to 2024.
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Used-vehicle sales were seasonally stronger than normal last month and higher year over year by 13%.
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The CDK outage at dealerships has disrupted sales reporting amid a monthly decline.
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Wholesale flattens mid-month, while used retail vehicle sales rose slightly but are still down compared to last year.
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Over the last two weeks, Manheim Market Report (MMR) prices declined an aggregate of 1.9%, which was more than the normal decline of 1% for the time of year.
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While CPO outperformed total and retail used-vehicle sales in May, CPO sales are most likely muted due to high prices, declining credit availability and high interest rates.
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As the supply of new vehicles improves rapidly, demand and prices for used ones are declining.
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Most loan types saw loosening in October, but certified pre-owned loans loosened the most month over month and year over year.
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The downward trend continues, as June CPO sales were down 1% from May’s sales stats.
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