Manheim used vehicle values up 0.1%

Wholesale used-vehicle values were largely unchanged year over year as retail sales jumped in February but at a slower pace than forecast. The Manheim Used Vehicle Value Index came in at 204.1 in February, up 0.1% YoY but down 0.7% compared with January, according to Cox Automotive . Manheim Used Vehicle Value Index

“February got off to a slower start than what was expected,” Scott Vanner , senior analyst of economic insights with Cox Auto, told Auto Finance News . “A lot of [sales] picked up at the end of the month, but it just never caught up to what was expected.” Timing and unfavorable weather were the main factors hampering sales in February , especially with legislation prohibiting the U.S. Internal Revenue Service from issuing refunds with earned income tax and additional child tax credits until Feb. 15, Vanner said. This year, those refunds were likely issued by the IRS around Feb. 17 given that Feb. 15 was a Saturday. “Those [consumers] are some of the biggest purchasers of used cars, and it pushed [sales] back an additional week,” he said. Prices mixed across segments Used-vehicle prices were mixed across the main product segments in February as the luxury and SUV segments saw prices increase, while prices declined across the EV , compact car, mid-size sedan and truck segments. Luxury prices increased 1.2% YoY, while SUV prices rose 0.2% YoY, according to Cox. On the other hand: EV values sank 6.2% YoY; Compact car prices dipped 4.8% YoY; Mid-size sedans declined 3.5% YoY; and Trucks inched down 0.6%. YoY price changes by market segment

Meanwhile, on a sequential basis, according to Cox: Compact car values fell 1.6%; Mid-size sedan values were down 1.1%; SUV values dipped 0.7%; Luxury values declined 0.5%; and EV values were 0.2% lower. Trucks were the only segment to post a month-over-month increase in value, rising 0.2%, according to Cox. Retail sales up 8% YoY, MoM Retail used-vehicle sales jumped 8% YoY and MoM in February, driving down the days’ supply to 45, according to initial estimates by Cox Auto, citing vAuto data . By comparison, the average days’ supply of used inventory was 50 a year prior and 48 in January. “We saw an extremely strong end to February and beginning of March, so with the delay in tax season … March should be strong,” Vanner said. Consumer sentiment down 6.2% YoY Consumer confidence declined YoY and MoM in February as consumers’ outlook of the present, future and plans to purchase a vehicle in the next six months weakened. In fact, consumer confidence fell 6.2% YoY and 6.6% MoM to 98.3 in February, the largest sequential decline since August 2021, according to the Conference Board ’s Consumer Confidence Index, published Feb. 25. Consumers’ current assessment of income, business and labor market conditions , tracked through the Present Situation Index, fell 2.4% MoM to 136.5, according to the Conference Board. Similarly, the Expectations Index, which tracks consumers’ outlook on income, business and labor market conditions, landed at 72.9, down 11.3% MoM, and beneath “the threshold of 80 that usually signals a recession ahead,” according to the board. Consumers’ plans to purchase vehicles in the coming months also weakened. “References to inflation and prices in general continue to rank high in write-in responses, but the focus shifted towards other topics,” Stephanie Guichard , senior economist of global indicators with the Conference Board, said in the release. “There was a sharp increase in the mentions of trade and tariffs, back to a level unseen since 2019. Most notably, comments on the current administration and its policies dominated the responses,” she said. Auto Finance Summit East 2025 is set for May 12-14 at the JW Marriott Nashville featuring fireside chats with Santander Consumer USA and Chase Auto. Visit autofinance.live for more information. Early bird registration is available here .

Manheim used vehicle values up 0.1%

Used retail sales rose 8% YoY, MoM

Auto stocks volatile amid tariff uncertainty

US consumers’ pessimism grows, long-run inflation outlook stable

Related Posts

Used-vehicle values climb 1% (Big Wheels)

Ford taps Amazon to let shoppers buy Its used cars online

Credit access ticks up 4.1% in October, approval rates fall

US consumers’ pessimism grows, long-run inflation outlook stable

Stay Informed with Our Newsletters

The Roadmap Podcast

SPONSORED

Driving Innovation in Automotive Refunds: How Onbe and Allied Solutions Are Modernizing the Payment Experience

Navigating the Margin Squeeze: EVs, Tariffs & Pricing — A Q&A with Earnix

Enhancing credit approaches to boost conversion and dealer loyalty

Welcome Back!

Retrieve your password