Used Vehicle Wholesale Prices Surge, Signaling Inflation Pressures Ahead Used vehicle wholesale prices jumped 4.2% in March from February, reaching $20,102, marking the largest year-over-year increase since the pandemic-driven price spike. Dealers, emboldened by strong demand, are bidding aggressively at auctions and passing higher costs to consumers. The Manheim Used Vehicle Value Index shows seasonally adjusted prices rose 1.4% monthly. Electric vehicles led gains with 3.7% monthly growth and 8.0% year-over-year increases to $28,471. Strong consumer demand fueled by larger tax refunds, averaging $3,521 and up 11.1% annually, is driving competition for limited inventory. Rising gas prices are also boosting used EV demand. Wholesale sales conversion reached 68.2%, significantly above historical averages, indicating robust buyer activity.
