Used Car Prices Soar, Highest Jump in 14 Years
Used car prices have seen the largest February increase in 14 years as inflation continues to drive consumer prices.
Wholesale used-vehicle prices increased 4.1 percent from January through the first half of this month, signifying the largest February increase since 2009’s full-month 4.4 percent gain, according to the mid-month Manheim Used Vehicle Value Index from Cox Automotive.
This comes just a month after markets were hit with a massive rise in used car prices, according to the Manheim Used Vehicle Value Index.
The used vehicle index rose to 234.0, down 7.3 percent from the entire month of February 2022, as seasonal adjustment drove a small part of the gains….