The Ford Mustang will be viewed on May 5, 2025 at a used car dealership in Montebello, California.
Frederick J. Brown | AFP | Getty Images
Detroit – Used vehicle prices have been eased from recent highs in April as they feared a price hike due to tariffs flocked to buy vehicles and trucks, according to a meticulous barometer for owned prices.
Cox Automotive’s Mannheim used the vehicle value index – Tracking the prices of used cars sold at US wholesale auctions – A decline of 1.5% between April and May, but remained 4% higher than a year ago. The level in April was the highest since October 2023.
“We are committed to providing a wide range of services to our customers,” said Jeremy Robb, senior director of Economy, Trade and Industry Insights at COX Automotive.
Consumer retail prices have traditionally followed changes in wholesale prices, but have not fallen as quickly as wholesale prices in recent years.
President Donald Trump’s 25% tariff on new imported vehicles does not directly affect the sale of used cars for many parts, but changes in new vehicle prices, production and demand will affect the used car market.
Demand remained relatively strong as second-hand car inventory levels (2.2 million) remained low compared to past levels. This is because consumers have been holding their vehicles for longer in recent years as the industry has handled less production amid the coronavirus pandemic and a global supply chain shortage.
Cox reports retailer sales in May fell 3% compared to April, but up 4% year-on-year.
Cox previously said that used vehicle prices have continued to remain stable after they began to settle in 2024 after several years of heavy shaking.
