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Fuel Costs Lift Used EV Values as Big Vehicles Slide
(MENAFN) Soaring fuel costs are redrawing the US used-car market, propping up electric and fuel-efficient vehicles while dragging down larger models as overall wholesale prices slip, according to data released Wednesday by Cox Automotive.
The Manheim Used Vehicle Value Index dropped to 205.9 in September, a 0.6% decline from a year earlier and a 1.1% decrease from August, adjusted for vehicle mix, mileage and seasonality.
Electric vehicle values ran against the trend, climbing 4.3% year over year and 0.6% month over month. Non-electric vehicle values fell 1.6% annually and 1.7% from August. Compact cars held up, while pickups and SUVs weakened.
The split reaches well beyond EVs. Cox’s quarterly presentation showed that non-electric models rated at 40 miles per gallon or better have gained 9.9% in wholesale value since January, while vehicles rated below 15 miles per gallon have shed 15%. The gap shows how much running costs now shape vehicle values as household budgets come under strain.
Diesel vehicles made up just over 3% of wholesale inventory, but their supply swelled to 39 days, up 27% from a year earlier, as record diesel prices suppressed demand. EV supply, meanwhile, shrank as persistently high gasoline prices pushed buyers toward more efficient vehicles.
Cox cut its year-end forecast for wholesale price growth to 0.2%, down from the 2% it projected in July, pointing to higher fuel costs, rising interest rates and wider economic pressures.
Used-EV market gets more supply
Used retail EV sales hit a record 124,000 vehicles in the third quarter, up 11.4% from a year earlier, though they still made up only 2.8% of used retail sales.
More EVs are also re-entering the market as leases end. They are expected to represent about 16% of off-lease supply in the second half of 2026, up from 10% in the first half.
Even with softer valuations, Cox modestly raised its forecast for total used-vehicle sales this year to 38.5 million, a sign that demand is holding up even as buyers grow more sensitive to the cost of ownership.
The Manheim Used Vehicle Value Index dropped to 205.9 in September, a 0.6% decline from a year earlier and a 1.1% decrease from August, adjusted for vehicle mix, mileage and seasonality.
Electric vehicle values ran against the trend, climbing 4.3% year over year and 0.6% month over month. Non-electric vehicle values fell 1.6% annually and 1.7% from August. Compact cars held up, while pickups and SUVs weakened.
The split reaches well beyond EVs. Cox’s quarterly presentation showed that non-electric models rated at 40 miles per gallon or better have gained 9.9% in wholesale value since January, while vehicles rated below 15 miles per gallon have shed 15%. The gap shows how much running costs now shape vehicle values as household budgets come under strain.
Diesel vehicles made up just over 3% of wholesale inventory, but their supply swelled to 39 days, up 27% from a year earlier, as record diesel prices suppressed demand. EV supply, meanwhile, shrank as persistently high gasoline prices pushed buyers toward more efficient vehicles.
Cox cut its year-end forecast for wholesale price growth to 0.2%, down from the 2% it projected in July, pointing to higher fuel costs, rising interest rates and wider economic pressures.
Used-EV market gets more supply
Used retail EV sales hit a record 124,000 vehicles in the third quarter, up 11.4% from a year earlier, though they still made up only 2.8% of used retail sales.
More EVs are also re-entering the market as leases end. They are expected to represent about 16% of off-lease supply in the second half of 2026, up from 10% in the first half.
Even with softer valuations, Cox modestly raised its forecast for total used-vehicle sales this year to 38.5 million, a sign that demand is holding up even as buyers grow more sensitive to the cost of ownership.
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