Overview
- Cox Automotive said Tuesday the Manheim Used Vehicle Value Index, a gauge of wholesale used-car prices, rose 6.2% in March to 215.3 after a 1.4% monthly gain, the highest since summer 2023.
- Retail activity gained in the first quarter, with used-vehicle sales about 2% above a year ago and list prices for popular three-year-old models roughly 2% higher.
- Inventory tightened further as days’ supply fell below 40 in March, and Manheim reported a 68.2% sales conversion rate that signaled strong dealer competition for limited stock.
- Used electric vehicles set a first-quarter record at Manheim with nearly 37,000 sold, reflecting a growing wave of off-lease returns and rising dealer interest at lower price points than new EVs.
- Cox kept a cautious 2026 outlook, forecasting total used-vehicle sales down about 1% for the year and the index up roughly 2% by December, while warning that Middle East tensions could still weigh on demand.