Used-car prices rise as demand stays strong, inventory tightens
According to Cox Automotive today, April 13 2026:
Manheim wholesale prices for used vehicles rose year over year in March, driven in part by stronger consumer demand for used cars.
The details: According to Cox Automotive, its Manheim Used Vehicle Value Index (MUVVI) rose to 215.3, up 6.2% YoY and marking its highest level since the summer of 2023.
The Manheim Market Report (MMR) shows three-year-old index prices rose 2.2% for the month, slightly above seasonal norms.
MMR retention averaged 100.5%, flat YoY and up 0.2 percentage points from February, in line with seasonal norms.
Sales conversion, meanwhile, reached 68.2% in Manheim’s latest assessment, 4.6 points above the March three-year average and 5.5 points above February’s 62.7%.
What they’re saying: “Sales conversion rates, a clear sign of demand, were higher against 2025 for every week but one in Q1, and vehicle value trends at auction show we are well ahead of last year and where we would normally be during a spring bounce in the wholesale markets,” said Jeremy Robb, chief economist at Cox Automotive.
“We thought we’d see some impact from the Middle East conflict, and that may still happen. But right now, the data is clear: used-vehicle demand is healthy, and inventory levels are relatively tight.”
Why it matters: Firmer wholesale pricing is another sign that used demand remains resilient, but it also means stores may face more pressure on acquisition costs as competition for desirable used inventory intensifies.
Between the lines: With affordability pressure in the new-vehicle market, retail conditions for used vehicles strengthened in the first quarter of 2026 as the spring selling season arrived, helped by higher-than-average tax refunds, according to Cox.
