Wholesale used vehicle prices fell -1.4% MoM in May (seasonally adjusted) but were still up 4.0% YoY, with the Manheim Used Vehicle Value Index slipping to 205.2.

• Non-adjusted prices fell -1.5% MoM but remained 4.0% higher YoY.
• The Three-Year-Old Index declined -1.4% over the month, slightly below the pre-pandemic average.
• EV prices fell -0.9% MoM but rose 3.1% YoY; non-EVs dropped -1.8% MoM but were up 3.8% YoY.
• Segment-wise, compact cars were the weakest (-2.3% MoM, -1.5% YoY), while luxury vehicles led YoY gains (+6.5%).
• Sales conversion rate declined to 57.4%, down over 5 ppts MoM but still above the 3-year average.