Used car prices hit their highest level in nearly 3 years as wholesale demand stays strong
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Used car prices in the US have reached their highest level in nearly three years due to strong wholesale demand. The Manheim Used Vehicle Value Index rose 6.2% year over year to 215.3 in March, with values up 2.3% from the start of 2026.
Used car prices are at their highest in nearly three years. The Manheim Used Vehicle Value Index rose 6.2% year over year. Demand for used vehicles remains strong, with values rising 1.4% in March. The sales conversion rate was 68.2% in March, up 5.5 percentage points from February. Used electric vehicles also showed strength in the first quarter. Retail used vehicle sales were up 2% in the first quarter, with inventory tightening.
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