FX.co ★ US Used Car Prices Down for 3rd Month

The Manheim Used Vehicle Value Index, a closely watched barometer of US wholesale used-vehicle prices, declined 1.1% month-on-month in September 2026, marking a third straight monthly drop. Prices for non-EVs fell 1.7%, while EV prices inched up 0.6%.

“We are in the weakest season for wholesale valuations, and as September closed, depreciation was steeper than we typically see this time of year. The first half of the year actually showed more appreciation than usual, even in the face of higher fuel prices. But with the conflict in the Middle East ongoing, diesel prices at record highs, and interest rates climbing rapidly— increasingly worrying both businesses and consumers—wholesale prices have felt the sting,” said Jeremy Robb, Chief Economist at Cox Automotive.

On a year-on-year basis, used-vehicle prices slipped 0.6%, the first annual decline since March 2025. Ongoing strength in EVs and compact cars was more than offset by continued weakness in midsize cars, pickups, and SUVs, which remain on a downward trend.