Wholesale used-vehicle prices showed mixed movement in early August. On a seasonally adjusted basis, the Manheim Used Vehicle Value Index dropped to 206.5, reflecting a 1.2% increase from August 2024 but lower than July due to stronger seasonal adjustments. Unadjusted prices, however, rose 0.6% compared to July and were 1.3% higher year over year, signaling stronger-than-typical appreciation for the month. Analysts noted that late July and early August brought stronger retail and wholesale sales, adding volatility to pricing trends. Inventory tightened to its lowest level since April, keeping wholesale demand steady despite earlier tariff-related disruptions.

The Manheim Market Report (MMR) showed little change for three-year-old vehicles in early August, with prices falling in the first week and rebounding in the second. MMR retention averaged 99.8%, reflecting tighter alignment between market prices and valuation models, while sales conversion rates rose compared to late July. Price performance varied by segment: luxury vehicles led year-over-year gains (+1.8%), SUVs rose modestly (+0.9%), but trucks, midsize, and compact cars all declined. Electric vehicles stood out, climbing 4.2% year over year as demand strengthened ahead of expiring tax credits, outpacing non-EVs. Wholesale supply tightened slightly to 25 days in mid-August, one day lower than July and below long-term averages. Meanwhile, consumer sentiment weakened, falling 5% from July, with both short- and long-term inflation expectations rising. Car buying conditions hit their lowest since May, reflecting concerns about high interest rates and vehicle prices, even as gasoline prices edged down year over year.