Cox Automotive said Wednesday that its Manheim index — a measurement of wholesale used-vehicle prices calculated by tracking vehicles sold at Manheim's U.S. auctions and applying statistical analysis to those figures — fell 2.7 percent in May from April. Cox adjusts that figure for mix, mileage and seasonality.
Black Book's Used Vehicle Retention Index — calculated using Black Book's published Wholesale Average value on 2- to 6-year-old used vehicles and weighted based on registration volume and adjusted for seasonality, vehicle age, mileage and condition — fell slightly, by 0.1 percent, in May from April.
The Manheim index was 7.6 percent lower last month compared with the same month in 2022, according to Cox. The company also reported nonadjusted figures for the Manheim index — down 1.7 percent in May from April and down 8.2 percent year over year.