Manheim Index Reveals Used-Car Wholesale Costs Up 2.1% in June

Wholesale used-vehicle costs, adjusted for combine, mileage and seasonality, elevated 2.1% 12 months over 12 months in June, pushing the Manheim Used Car Worth Index to 212.9, Cox Automotive reported.

The index edged up 0.1% from Could, beneath the long-term common June improve of 0.5%. Non-adjusted wholesale costs elevated 2.9% from June 2025 however declined 1.3% from Could.

Jonathan Gregory, senior director at Cox Automotive, mentioned in a July 8 information launched that the primary half of 2026 ended with wholesale values on strong footing after a robust tax-refund season pushed costs to multi-year highs in March earlier than moderating. The index completed June about 1% beneath its March peak.

“I’d warning towards studying an excessive amount of into the softer year-over-year print: the deceleration from Could’s 3.6% to June’s 2.1% is generally a base impact, as we’re now lapping final June, when values had been nonetheless climbing on tariff-induced demand,” Gregory mentioned.

He added that seller demand stays balanced, citing a gross sales conversion charge of 57.5%, which stays above the three-year June common regardless of easing since spring. He additionally famous wholesale days’ provide ended June at 26.9 days, barely above final 12 months however inside seasonal norms.

“Affordability is the throughline within the first half of 2026,” Greogry mentioned. “We’ve seen stronger appreciation in older items this 12 months, and probably the most inexpensive segments have been among the many 12 months’s greatest performers.

“The danger we’re anticipating the second half is that steep ramp in off-lease provide, EVs particularly, which may stress particular segments even because the headline holds agency. Gasoline is the swing issue: If pump costs hold falling, a few of that EV demand may fade as availability will increase.”

MMR Costs, Retention & Gross sales Conversion

MMR costs for the Three-12 months-Outdated Index declined 1.9% in June. MMR retention averaged 99.4%, up 0.2 proportion factors 12 months over 12 months and down 0.1 level from Could.

Gross sales conversion reached 57.5%, 2.6 proportion factors above the three-year June common however 1.4 factors beneath Could.

Value declines and retention modifications had been milder than typical for June, whereas demand remained above regular regardless of current softening.

Phase Efficiency: 12 months-Over-12 months Value Modifications

General wholesale costs elevated from a 12 months in the past, led by positive aspects in EVs and luxurious autos, whereas compact automobiles additionally confirmed relative energy in current months.

SUVs and pickups underperformed in contrast with the identical interval final 12 months.

EV versus Non-EV Index

The EV Index rose 12% 12 months over 12 months and 1.7% from Could. The Non-EV Index elevated 1.7% 12 months over 12 months and 0.2% from Could. Cox Automotive mentioned each segments remained above year-ago pricing ranges, with EV values persevering with to strengthen at the same time as car availability improved.

Wholesale Provide and Rental Costs

Wholesale days’ provide ended June at 26.9 days, up 1.3 days from a 12 months earlier and 0.1 day from Could.

Rental car costs elevated 1.2% 12 months over 12 months however slipped 0.1% from Could. On a non-seasonally adjusted foundation, rental values had been 1.3% above June 2025 whereas declining 2% throughout June. Common mileage on rental items was 6.6% decrease than a 12 months earlier.

Cox Automotive mentioned wholesale provide remained inside regular seasonal ranges whereas rental values eased month over month.