Used EVs and compact cars were the strong spots in October's wholesale market. Cox Automotive's EV index was up 6.6 % on a year earlier, while light-duty trucks fell 4.3 % on a non-adjusted basis.
The short answer
The Manheim Used Vehicle Value Index ended October 2026 at 206.8, Cox Automotive says. That is up 0.5 % from September and 2 % from October 2025. EVs and compact cars did best; luxury cars, pickups and SUVs pulled the other way.
What is the Manheim index?
It is Cox Automotive's gauge of wholesale used-vehicle prices, adjusted for mix, mileage and seasonality. It is set so that January 1997 equals 100. Cox reports the official number on the fifth business day of each month.
How much did prices move in October?
| Measure | vs September | vs October 2025 |
|---|---|---|
| Manheim index (adjusted) | up 0.5 % | up 2 % |
| Wholesale prices, not adjusted | down 2.3 % | up 0.3 % |
| EV index | down 0.9 % | up 6.6 % |
| Non-EV index | up 0.4 % | up 1.1 % |
| Rental vehicles | down 1.1 % | up 1.9 % |
The usual October move is a 0.3 % rise on the adjusted index, so October ran slightly ahead of normal. Without the seasonal adjustment, prices fell 2.3 %, a little more than the 1.5 % drop that is typical for October. Cox calls October generally the weakest month of the year.
Why are used EVs up so much?
Partly a soft starting point. Cox says the EV tax credit ended in September 2025, which had pushed up EV demand, and used EV values then fell 3 % that October. So this year is measured against depressed values.
Cox also points to fuel. Gas prices remain elevated, it says, which has helped EV values and hurt light-duty trucks, down 4.3 % year over year on a non-adjusted basis against 0.3 % growth for the whole market.
What happened to three-year-old cars?
Cox's Three-Year-Old Index fell 2.8 % in October. That is less than the typical 3.1 % depreciation for the period.
Is supply tight?
Not unusually. Wholesale days' supply was 28.1 at the end of October, up 0.1 days on a year earlier and down 0.7 from September, and Cox says it remains within seasonal norms. On the retail side, Cox puts used days' supply just under 50 and says inventory is tighter than last year.
On the street
These are wholesale numbers, not sticker prices. They still show where the pressure sits: used EVs are firm against a weak 2025, pickups and SUVs are soft. Rental cars coming back into the market also showed 14 % lower mileage than last October, Cox says. Looking ahead, Cox notes that vehicle sales tend to slow as the days get colder.
FAQ
When does the next Manheim index come out?
Cox says the next full set of monthly data arrives on Dec. 7, 2026.
What did the mid-October reading say?
Cox put the index at 207.4 in its mid-October update, up 0.7 % from September, as Autobody News also reported. The official full-month reading was 206.8, and Cox treats the mid-month figure as a checkpoint, not an official reading.
What was the index a year ago?
Cox's October 2025 report put it at 202.9, after a 2 % drop that month.
Sources
- Manheim Used Vehicle Value Index: October 2026 trends (Cox Automotive), read 2026-11-09
- Manheim Used Vehicle Value Index: mid-October 2026 trends (Cox Automotive), read 2026-11-09
- Manheim Used Vehicle Value Index: October 2025 trends (Cox Automotive), read 2026-11-09
- Manheim index rises 0.7 % in early October as wholesale supply tightens (Autobody News), read 2026-11-09
- Wholesale used-vehicle prices rise 2 % year over year in October (CBT News), read 2026-11-09