Used-Car Prices Rise Ahead of Spring

DETROIT — U.S. wholesale used-vehicle prices rose in February as dealers built inventory for a strong spring selling season, according to Cox Automotive’s Manheim Used Vehicle Value Index.

The index, a benchmark for wholesale prices of used vehicles sold at Manheim auctions, came in at 212.3 in February, up 4% from a year earlier and 0.8% from January.

Dealers stock up for spring

Cox said prices moved higher than usual in the back half of February, a pattern echoed across its February index report and weekly market summary as dealers competed to build inventories.

The same updates framed the pickup as dealers stocking lots ahead of spring demand, a view also reflected in coverage of the February index.

Wholesale momentum into March

With prices up year over year, the data point to higher acquisition costs for dealers even as the market cools from pandemic peaks.

The February rise, paired with late‑month acceleration, suggests wholesale pricing pressure could persist into early spring.

Dealers and lenders will be watching whether March demand keeps pace with the inventory build that began in February.

Additional Details Reported

• Cox Automotive reported the average used-vehicle listing price in January was $25,533.

• The February index report cited stronger demand in Manheim auctions alongside higher sales conversion rates in February’s first half. (Source)

• Cox’s weekly summary said average tax refunds were running about 10% higher than last year, boosting consumer purchasing power early in the season.

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