Wholesale used-vehicle prices fell 0.3% from May to mid-June on a mix-, mileage-, and seasonally adjusted basis, with the Manheim Used Vehicle Value Index at 196.8, down 8.5% year-over-year. Non-adjusted prices dropped 1.6% from May and 9.5% from the previous year. Jeremy Robb from Cox Automotive noted stronger-than-normal declines in late May continuing into June. MMR prices for three-year-old vehicles fell 0.9%, above the typical 0.2% decline. The average daily sales conversion rate rose to 57.8%, up from May but below June 2019 levels. All major market segments saw year-over-year price declines, with pickups performing best and compact cars worst. EV prices fell 17% from June 2023. Wholesale supply remained stable at 26 days. Rental risk vehicle prices dropped 15.2% year-over-year and 5.7% from May. Consumer sentiment fell to its lowest since June 2023, with negative views on current conditions and vehicle buying conditions. Gas prices increased slightly but were down year-over-year.