Cox Automotive Slashes Used-Vehicle Price Forecast for 2026
Cox Automotive said higher fuel, inflation and rates pushed wholesale prices lower as electric and fuel-efficient vehicles gained value.
- On Tuesday, Cox Automotive lowered its forecast for the Manheim Used Vehicle Value Index from 2% growth to 0.2%, following a 0.6% year-over-year decline in September, the first monthly drop since early last year.
- Rising interest rates and record-high fuel costs are weighing on wholesale prices, as depreciation accelerated through the third quarter, said Cox Automotive chief economist Jeremy Robb in a statement.
- While large trucks and SUVs performed poorly, electric vehicles and smaller, fuel-efficient models gained value during the quarter, reshaping used-vehicle market dynamics, according to Cox Automotive.
- Despite wholesale declines, retail prices remain elevated at $27,239 in August, while affordability challenges persist with financed used-vehicle interest rates reaching 10.6% in the third quarter, according to Edmunds.
- Black Book's Used Vehicle Retention Index fell 3.1% in September to 139.7, and vice president of data and analytics Laura Wehunt expects depreciation to continue through the fourth quarter amid seasonal pressures.
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Washington, Oct 7 (EFE).- The prices of used vehicles in the United States dropped in the third quarter of the year, while fuel prices boosted the demand and value of electric cars and small and efficient models, according to data released this Wednesday by Cox Automotive. The Manheim Index [...] The entry The price of used vehicles drops in the United States and increases the demand for efficient models was first published in HolaNews.
Wholesale prices fall 0.6% annually in September; EV values rise 4.3%, Cox Automotive cuts year-end price forecast
Used car prices fall in Q3, while demand for fuel-efficient vehicles grows
A key indicator for measuring used car prices in the United States shows that prices are expected to fall more than previously anticipated this year, primarily because rising fuel costs are reshaping the U.S. used car market, with more consumers turning to electric and fuel-efficient vehicles.
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