The Manheim Used Vehicle Value Index rose 0.5% month over month in October 2026, marking its first increase in four months. Prices for non-electric vehicles (non-EVs) were up 0.4%, while electric vehicle (EV) prices declined 0.9%. On a year-over-year basis, used vehicle prices increased 1.9%, reversing a 0.5% decline in the prior month. Gains were led by EVs (up 6.6%) and Compact Cars (up 6.5%), while values for Luxury vehicles (-0.7%), Pickups (-0.7%), and SUVs (-0.2%) continued to edge lower.
“October is typically the weakest month of the year, which makes the comparison with last year especially notable. In 2025, the EV tax credit expired in September, temporarily boosting demand for both new and used EVs. Once that support ended, used EV values dropped 3% in October, and non-EV values fell more than 2%, driving steep month-over-month declines in both the index and non-seasonally adjusted prices. This year, both EV and non-EV prices also fell on a non-seasonally adjusted basis, but their declines were far more modest than in 2025,” said Jeremy Robb, Chief Economist at Cox Automotive.
