Wholesale used-vehicle prices climbed to their highest level since the summer of 2023 in March, as strong retail demand, tight inventory and a robust spring bounce pushed auction values well above year-ago levels, Cox Automotive reported April 7.
The Manheim Used Vehicle Value Index (MUVVI), which tracks wholesale used-vehicle prices on a mix, mileage and seasonally adjusted basis, rose to 215.3 in March, an increase of 6.2% year over year. Values were up 1.4% from February — a monthly move well above long-term norms — and 2.3% higher than at the start of the year.
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