Fleet Market Update: Used Vehicle Prices Cool, But Demand Holds Strong
The wholesale used-vehicle market showed signs of leveling out in early April, a shift fleet operators should pay attention to as they plan acquisitions and remarketing strategies. The Manheim Used Vehicle Value Index dropped slightly to 213.0, reflecting a 1.1% decline compared to March when adjusted for seasonal factors. Even so, prices remain up 2.3% year over year, signaling that overall market strength hasn’t disappeared. Non-adjusted prices actually rose 0.9% from March and are up 3.3% from last year, though growth is coming in a bit softer than typical April trends. After a strong first quarter, the market is returning to more predictable seasonal patterns rather than continuing its earlier surge.
For fleets, the bigger takeaway is that demand remains healthy despite this normalization. Sales conversion rates are still running above long-term averages, and wholesale supply has held steady at about 25 days, meaning inventory is moving at a balanced pace. While price appreciation is slowing and early signs of depreciation are appearing, retention levels are in line with historical norms. Segment performance also matters: luxury vehicles and EVs are leading price gains, with EV values up over 6% year over year, outperforming traditional vehicles. With gas prices staying above $4 per gallon, fleets should keep a close eye on EV demand and resale values, as shifting fuel costs could continue to influence buyer behavior throughout the year.
Fleet Ordering Alert: Key Deadlines for 2026 Ford Explorer and F-150
Fleet managers should take note of upcoming order deadlines for two of Ford’s most widely used fleet vehicles. The final order date for the 2026 Ford Explorer is set for May 1, 2026, and the 100A option package has already been removed from ordering as of April 10, 2026. This means any remaining Explorer orders will need to be finalized quickly, and configuration flexibility is now more limited than earlier in the ordering cycle.
Fuel Costs Climb Again: What It Means for Fleet Operations
Fuel prices are holding steady for now, but the bigger picture points to rising costs that fleets can’t ignore. The national average sits at $4.07 per gallon, unchanged week over week, but up nearly 40 cents from last month and more than 90 cents higher than this time last year. That kind of jump puts immediate pressure on operating budgets, especially for fleets with high mileage or tight margins. While some regions like the Gulf Coast remain relatively lower, others—particularly the West Coast—are seeing significantly higher prices, creating uneven cost challenges depending on where fleets operate.