FI showroom red and grey logo
MenuMENU
SearchSEARCH

Wholesale Used-Vehicle Prices Increase in First Half of July From Seasonal Adjustment

Over the last two weeks, Manheim Market Report prices saw higher-than-normal but decelerating declines.

July 19, 2022
Wholesale Used-Vehicle Prices Increase in First Half of July From Seasonal Adjustment

Over the last two weeks, Manheim Market Report prices saw higher-than-normal but decelerating declines.

3 min to read


MAHEIM – Wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) increased 0.7% from June in the first 15 days of July. The Manheim Used Vehicle Value Index rose to 221.5, which was up 13.4% from July 2021. The non-adjusted price change in the first half of July was a decrease of 2.2% compared to June, leaving the unadjusted average price up 11.4% year over year. 

Over the last two weeks, Manheim Market Report (MMR) prices saw higher-than-normal but decelerating declines. Over that time, the Three-Year-Old MMR Index, which represents the largest model-year cohort at auction, experienced a 1.5% cumulative decline. Over the first 15 days of July, MMR Retention, which is the average difference in price relative to current MMR, averaged 97.8%, which indicates that valuation models are ahead of market prices. The average daily sales conversion rate of 46.7% in the first half of July declined relative to June’s daily average of 51.3% and has been lower than the typical conversion rate this time of year. The latest trends in key indicators suggest wholesale used-vehicle values should see declines in the second half of the month.

Ad Loading...

All major market segments saw seasonally adjusted prices that were higher year over year in the first half of July. Vans had the largest increase at 24.0%, while both non-luxury car segments again outpaced the overall industry in seasonally adjusted year-over-year gains. Compared to June, four of eight major segments saw better performance, with compact, full-size, and midsize cars up 2.2%, 1.9%, and 1.7%, respectively. The seasonal adjustment drove the increases, with SUVs up a slight 0.2% from June, while pickups and vans decreased 0.4% and 0.7%, respectively.  

Retail and wholesale days’ supply relative normal at mid-July. Using estimates based on vAuto data as of July 11, used retail days’ supply was 47 days, which was down two days from the end of June. Days’ supply was up eight days year over year but at the same level for the same week in 2019. Leveraging Manheim sales and inventory data, we estimate that wholesale supply ended June at 26 days, up one day from the end of May and up six days year over year. As of July 15, wholesale supply was at 27 days, up one day from the end of June and up six days year over year but three days lower than 2019. 

Rental risk prices maintain year-over-year increase. The average price for rental risk units sold at auction in the first 15 days of July was up 32.9% year over year. Rental risk prices were up 0.3% compared to the full month of June. Average mileage for rental risk units in the first half of July (at 57,800 miles) was down 34.4% compared to a year ago and down 1.6% month over month. 

Consumer Sentiment increases to start July. The initial July reading on Consumer Sentiment from the University of Michigan increased 2.2% to 51.1. The improvement was from consumers’ view of current conditions as future expectations declined slightly. Also notable, the expected inflation rate in five years fell to 2.8% from 3.1% in June. Consumers’ views of buying conditions for vehicles increased to the best level since April. The daily index of consumer sentiment from Morning Consult has also increased so far in July. The index is up 0.3% for the month so far. Sentiment has improved as gas prices have been falling. The average price of unleaded nationally was $4.52 on Sunday, down 9.9% from peak in June.

Click here to view the full report.

More Auto Finance

A fan of $100 bills sitting on a white envelope
Auto Financeby Hannah MitchellAugust 12, 2026

July Was Hot for Auto Borrowers

Credit proved readily available for many, but most loans left buyers in negative territory, Cox Automotive said.

Read More →
stacks of coins, a calculator, paperwork, and a pair of glasses in the background, text Lender Experience Drives Dealer Decisions, F&I and Showroom
Auto Financeby Lauren LawrenceAugust 12, 2026

Dealer Lender Preferences Revealed

When lenders provide consistent, fast service, their overall satisfaction scores with dealers greatly improve, according to JD Power research.

Read More →
man sitting at desk using a calculator
Auto Financeby Lauren LawrenceAugust 10, 2026

Auto Refi Savings Surge

Consumers with 84-month auto loan terms who refinanced saved the most on monthly payments, according to a new report by auto refinancing provider Caribou.

Read More →
Ad Loading...
Tiny toy car in front of small stacks of coins
Auto Financeby Hannah MitchellAugust 5, 2026

Subaru Enters Lending Business

The automaker follows other brands in adding captive financing in the U.S., and says the move will strengthen its position here.

Read More →
Man climbing ladder in front of mountain landscape.
Auto Financeby Lauren LawrenceAugust 3, 2026

Positive Equity Reaches Record High

Mainstream vehicle owners who bought a car seven years ago are likely to have positive equity when trading in for a new vehicle, according to second-quarter Edmunds data.

Read More →
Photo of document next to calculator and inkpen
Auto FinanceJuly 20, 2026

Dealerships Are Paying the Price for Extended Car Loans

Growing negative-equity scenarios mean such lengthy terms should be addressed in a forward-looking way to make them work for the dealer and the consumer down the road.

Read More →
Ad Loading...
silver car in background with hand in front holding out a set of keys, Trade-In Trouble, F&I and Showroom
Auto Financeby Lauren LawrenceJuly 20, 2026

Trade-Ins in Negative Equity Reach New Heights

As such trade-ins rise in frequency, so do monthly loan payment amounts and interest rates, according to second-quarter data compiled by Edmunds.

Read More →
Two men in suit jackets shaking hands in front of a new-looking white vehicle
Auto Financeby Hannah MitchellJuly 15, 2026

Auto Credit Plentiful

June numbers show lenders are readily granting access, including to risky borrowers, as consumers leverage themselves to take on high prices.

Read More →
Woman's hands holding an wallet empty of cash
Auto Financeby Hannah MitchellJuly 1, 2026

Automotive Consumers Sink Further in Debt

Most financing metrics hit records in the second quarter as more buyers locked themselves into long terms and high monthly payments.

Read More →
Ad Loading...
Three men smiling for headshots
Auto Financeby Lauren LawrenceJuly 1, 2026

Porsche Financial Services Shifts Structure

After 36 years with Porsche, the Financial Services Chief Financial Officer Konrad Riedl is retiring, and the department is realigning its management structure.

Read More →