Used car prices hit their highest level in nearly 3 years
American consumers who are in the market for used cars are facing the highest prices in nearly three years, according to a new report. Wholesale prices for used vehicles rose to their highest level since the summer of 2023 in March, with the Manheim Used Vehicle Value Index rising 6.2% year over year to a reading of 215.3. Data from Manheim, a Cox Automotive brand and the largest wholesale marketplace in the US, found that demand for used vehicles remains strong. Values rose 1.4% in the month of March, which the report noted is well above long-term norms, and are up 2.3% from the start of 2026. “As soon as this year began, prices at Manheim started moving higher as dealers anticipated strong demand from higher tax refunds to consumers,” said Jeremy Robb, chief economist at Cox Automotive. “Sales conversion rates, a clear sign of demand, were higher against 2025 for every week but one in Q1, and vehicle value trends at auction show we are well ahead of last year and where we would normally be during a spring bounce…
7 Apr 00:00 · Inlandnewstoday