FX.co ★ US Used Vehicle Prices See Largest Fall in Over 2Y

In October 2025, the US Manheim Used Vehicle Value Index recorded a 2% month-over-month decrease, marking its most significant decline since April 2024, following a modest 0.2% drop in September. October often brings challenges for wholesale markets, typically featuring the most pronounced depreciation of the year, and this year was no different. According to Jeremy Robb, Deputy Chief Economist at Cox Automotive, it is common to witness considerable value decreases during this month as dealers slow down in preparation for winter and the influx of new model year vehicles in retail inventory adds pressure on prices. Electric vehicle (EV) prices experienced a 3% decline, while non-EVs saw a 2.2% reduction. On a year-over-year basis, used car prices remained steady after a 2% increase in September. The luxury vehicle segment outperformed the general market for several months, boosted by rising EV prices. Conversely, compact and mid-size cars have experienced the most significant declines compared to the previous year.