Used Car Prices in the US Fall the Most in Nearly a Year

The Manheim Used Vehicle Value Index for the US decreased 1.4% month-over-month in May 2025, the biggest decline in nearly a year, after a 2.7% increase in April.

The seasonal adjustment slightly lowered the fall.

Prices dropped for the luxury segment (-0.7%), SUVs (-1.3%), mid-size sedans (-1.6%), trucks (-1.9%), and compact cars (-2.3%).

Prices for EVs fell 0.9%.

Year-on-year, prices for used cars in the US increased 4%. "While the market continues to digest the impact of tariffs, we could see a bit higher levels of wholesale depreciation over the summer.

However, lower inventory levels may counterbalance those more aggressive depreciation trends in the coming months”, said Jeremy Robb, senior director of Economic and Industry Insights at Cox Automotive.