Used Vehicle Prices Stay Strong as Demand Shifts Toward Affordable and Fuel-Efficient Models
Wholesale used vehicle prices continued to climb in early May, with the Manheim Used Vehicle Value Index rising 3.8% year over year and 0.5% from April on a seasonally adjusted basis. Stronger tax refund activity earlier in the spring helped support dealer demand, while affordability concerns continue pushing buyers toward lower-priced, older vehicles. Models more than eight years old remain some of the strongest-performing segments in the wholesale market.
EV prices also continue to outperform traditional gas-powered vehicles. Three-year-old EV values have now outpaced non-EVs for six straight weeks and are up 11% since the start of the year. Rising fuel prices and ongoing consumer interest in fuel-efficient vehicles are helping support demand. Analysts say EV pricing will be important to watch through the summer as more leased EVs return to the market.
Overall demand in the wholesale market remains healthy despite signs that seasonal price appreciation may be slowing. Sales conversion rates remain above historical averages, while wholesale supply levels are returning to more typical seasonal patterns. Compact cars and EVs posted the strongest year-over-year gains, while SUVs showed softer pricing performance.
Toyota Opens Limited Ordering Window for 2026 Tacoma, bZ, and RAV4 Plug-In Hybrid
Toyota has confirmed that 2026 Tacoma production remains available for May and June ordering, although several Tacoma SR configurations—including select 4x2 and 4x4 XtraCab and Double Cab models—will not be offered during this ordering cycle. Fleet buyers interested in Tacoma units should review available trims and place orders promptly while production slots remain open.
Canadian Vehicle Sales Continue to Slow Across Most Provinces in April 2026
Canadian new light vehicle sales declined across most provinces in April 2026, highlighting continued softness in the market. Nova Scotia was the only province to post a year-over-year gain, with sales up 3.4%, while Newfoundland saw the largest decline at 12%. Quebec recorded the biggest volume drop, down nearly 2,000 units from April 2025, followed by Alberta and British Columbia. Despite the April slowdown, Quebec remains slightly ahead year-to-date, up 0.1%, while all other provinces are still trailing last year’s results.