Current Used Vehicle Market Conditions
Average wholesale used vehicle prices softened from their April peaks in May and into June. Retail used vehicle sales and Certified Pre-Owned (CPO) sales continue to be well below pre-pandemic levels.
According to ADESA US Analytical Services’ monthly analysis of auction industry used vehicle prices by vehicle model class, wholesale prices in May averaged $16,116, down 2.2% compared to April, down 9.7% relative to May 2022, and up 38.7% versus pre-pandemic/May 2019. Average prices have continued to soften in June and stood at $15,204 for the week ending June 18th.