Used-Vehicle Value Volatility Shows Signs of Calming
First half of year ends with signs of normalizing, thanks to improved inventories.

Sales fell an estimated 6% year-over-year in June, which Cox says is the best result since March.
IMAGE: Pexels/Pixabay
Used-vehicle values took a roller-coaster ride in the first half of the year, ending down more than 10% year-over-year but stable in June as inventory rebalances, Cox Automotive says.
Meanwhile, used-vehicle retail sales were also down but not as much as they were in the spring.
“The wholesale market story for the first half of 2023 can be summed up in one word: volatile,” said Cox Automotive Chief Economist Jonathan Smoke.
“The result, however, is not unexpected. Larger upswings during the first quarter and a downward trajectory that began in the second half of March have brought us to roughly where we expected to be at this point in the year. The good news is that the worst of this is likely behind us. Used retail sales held steady in June and are showing signs of strengthening – inventory levels are generally balanced between supply and demand.”
Cox’s Manheim Used Vehicle Value Index fell to 215.1 in June and was down 10.3% year-over-year for the first half of the year.
Wholesale used-vehicle prices fell 4.2% in June, a record for the month, Cox said, and influenced in part by seasonal factors, among them multiple holiday weekends. The unadjusted average price was down 10% year-over-year.
Sales fell an estimated 6% year-over-year in June, which Cox says is the best result since March.
Days’ supply at the end of June was estimated to be 45, seven days fewer year-over-year.
DIG DEEPER: New-Car Sales Could Leave Pandemic Behind
Originally posted on Auto Dealer Today
More Industry

Ownership Priorities are Shifting
A new survey shows that in the U.S. vehicle quality for generation Z is largely defined by advanced safety features, intuitive technology and premium sound systems.
Read More →
Pump Price Jump Calculated
ISeeCars.com examined fuel costs for different power trains, finding which ones have experienced the biggest hits since the war in Iran commenced.
Read More →
Black Book: Weekly Market Update
Wholesale values fell last week despite the spring season still being in the traditional full-gear mode, analysts said.
Read More →
Arkansas Auto Group Acquires First Indiana Rooftop
Performance Brokerage Services represented both the buyer and seller in the sale of Carver Toyota of Columbus by Carlock Automotive Group.
Read More →
Stellantis to Dive Into U.S. Lending
The multinational maker of Chrysler, Dodge, Jeep, Ram and multiple other brands received conditional approvals for a Utah-based industrial bank.
Read More →
New-Vehicle Prices Rise
With April sales down, higher prices on in-demand large vehicles helped inflate the overall ATP, though increases were under long-term averages, Cox Automotive reported.
Read More →
Black Book: Weekly Market Update
Last week in the wholesale automotive market proved to be a mixed bag, analysts reported.
Read More →
Black Book: Weekly Market Update
Conversion rates were flat last week at 63%, Black Book analysts calculated, as low-mileage and almost-near units outpaced the overall market.
Read More →
EU Auto Association Urges Action
Trade relations between the European Union and the U.S. are at risk, causing the European Automobile Manufacturers Association to push lawmakers to make a decision.
Read More →
Driving into the Super CFC Era
Understanding the risks and benefits of retail accounting and Super CFCs can help you better present options to your dealer partners.
Read More →