Wholesale used-vehicle values showed signs of stabilization in October, with the Manheim Used Vehicle Value Index (MUVVI) rising to 206.8, an increase of 0.5% from September and 2.0% year over year. While seasonally adjusted values improved, actual wholesale prices declined 2.3% during the month, slightly more than the historical October average of 1.5%. Despite this decline, depreciation slowed toward the end of the month following a weaker third quarter.

Electric vehicles continued to outperform the broader market, with values increasing 6.6% year over year, compared with a 1.1% increase for non-EVs. Elevated gasoline prices have supported demand for fuel-efficient vehicles, while light-duty truck values declined 4.3% year over year. Wholesale inventory remained relatively stable at 28.1 days of supply, and auction sales conversion averaged 54.2%.

For fleets, stabilizing wholesale values provide some encouragement for remarketing performance heading into year-end. However, continued weakness in pickup values and stronger demand for fuel-efficient vehicles highlight the importance of evaluating residual values by vehicle segment. Fleets should closely monitor depreciation trends and fuel costs when making replacement and lifecycle planning decisions.