DETROIT — Used vehicle prices last month eased from their recent high in April as consumers who may have needed a vehicle but feared price hikes due to tariffs flocked to purchase a car or truck, according to a closely watched barometer of preowned prices.

Cox Automotive's Manheim Used Vehicle Value Index — which tracks prices of used vehicles sold at its U.S. wholesale auctions — decreased 1.5% from April to May, but remained 4% higher than a year earlier. April's level was the highest since October 2023.

"Wholesale appreciation trends were remarkably strong in April, but the market gave some of that strength back in May, though values remain well above last year's levels," said Jeremy Robb, senior director of economic and industry insights at Cox Automotive.

Retail prices for consu

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