Used car prices hit their highest level in nearly 3 years as wholesale demand stays strong

American consumers who are in the market for used cars are facing the highest prices in nearly three years, according to a new report.Wholesale prices for used vehicles rose to their highest level since the summer of 2023 in March, with the Manheim Used Vehicle Value Index rising 6.2% year over year to a reading of 215.3.Data from Manheim, a Cox Automotive brand and the largest wholesale marketplace in the U.S., found that demand for used vehicles remains strong. Values rose 1.4% in the month of March, which the report noted is well above long-term norms, and are up 2.3% from the start of 2026...

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