FX.co ★ Used Car Prices in the US Rise in May

The Manheim Used Vehicle Value Index, a closely watched gauge of US wholesale used-vehicle prices, rose 0.3% month over month to 212.6 in May 2026. This followed a 1.6% decline in April, which marked the first drop in six months.

“Wholesale value trends continue to normalize from a strong start to the year as we enter the summer months and consumers continue to face higher gas prices. The Manheim Index overall remains above last year’s level, but it did not show the typical seasonal strength we usually see in May. Values were significantly higher in February and March and have since begun to normalize. Still, the broader picture reflects a healthy balance between supply and demand,” said Jeremy Robb, Chief Economist at Cox Automotive.

In May, EV prices rose 3.5%, while prices for non-EVs were unchanged. On a year-on-year basis, overall used-vehicle prices increased 3.6%, driven by continued strength in EVs and recent gains in compact cars.