The easing in wholesale vehicle prices continues in March, as values in the first half of the month are down nearly 15% from a year ago, according to Cox Automotive.

When adjusting for mix, mileage and seasonality, the midmonth reading of the company’s Manheim Used Vehicle Value Index (202.6) is 14.9% lower than the full month of March 2023 and down 0.6% from February, Cox said in a Data Point report Tuesday.

Unadjusted, prices fell 11.6% from March 2023 but were up 2.8% month-over-month, the company said.

Breaking the adjusted price changes down by segment, luxury vehicle prices were down 13.5% year-over-year, compact cars were off 16.6% and midsize car prices fell 16.9%.

Pickup prices fell 15.6% and SUVs/CUVs were down 14.5%.

Electric vehicle prices had a sharper decline in the first half of March (18.8%) than non-EVs (down 13.1%), according to the Cox data.

Looking at wholesale supply, there were 24 days’ supply on March 15, compared to 25 at the end of February, Cox said, citing Manheim data.

Supply in up from 23 days in March 2023, but down from 28 in 2019.