The US Manheim Used Vehicle Value Index declined 0.5% month-over-month in July 2025, following a 1.6% surge in June. “Wholesale appreciation trends have continued to be a bit more volatile this year as tariffs have stirred demand in used markets for customers worried about price increases” said Jeremy Robb, senior director of Economic and Industry Insights at Cox Automotive. Prices declined for mid-size sedans (-0.1%), the luxury segment (-0.3%), SUVs (-0.8%) and compact cars (-1%) while prices for trucks were up 0.2%. EV values were down 0.7% while non-EVs increased by 0.1%. Year-on-year, used car prices increased 2.9%, the least in the previous four months, following a 6.3% jump in June. The luxury segment rose the most for the sixth month in a row, increasing by 6.8%. EV values have shown higher year-over-year appreciation trends for the last four months consecutively and were higher by 8.3% against the same month in 2024, while non-EVs rose by 2.4%.