June represented the steepest month-over-month drop in wholesale vehicle prices since the early days of the COVID-19 pandemic, according to the Manheim Used Vehicle Value Index report released Monday.

Cox Automotive, which publishes the index, said wholesale values last month were down 4.2% from May and fell 10.3% from June 2022, when adjusting for mix, mileage and seasonality. The index came in 215.1 for the month.

The last time wholesale prices fell that much ...

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