Used-Car Wholesale Prices Hit Highest Level Since Summer 2023

Cox Automotive said its Manheim index rose 6.2 percent from a year earlier as dealers bid for tight inventory.

Ford cars at a dealership in Austin, Texas, in a file photo. Brandon Bell/Getty Images

Prices for used vehicles continued to climb in March as dealers bid for tight inventory, an automotive market barometer suggests.

On Tuesday, Cox Automotive released the latest Manheim Used Vehicle Value Index, which tracks wholesale prices for used vehicles sold at U.S. auctions and adjusts for mix, mileage, and seasonality. The index rose to 215.3 in March, up 6.2 percent from a year earlier and 1.4 percent from February.