Wilbur Ross, the erstwhile U.S. Secretary of Commerce, delves into America’s inflation figures and its financial prospects during his appearance on The Claman Countdown.
A recent report indicates that American shoppers looking to purchase pre-owned automobiles are encountering prices not seen in almost three years.
In March, the wholesale cost of second-hand autos reached its apex since the summer of 2023, as the Manheim Used Vehicle Value Index climbed by 6.2% annually, reaching a figure of 215.3.
Information from Manheim, a division of Cox Automotive and the premier wholesale exchange in the United States, revealed persistent robust demand for pre-owned automobiles. Throughout March, values increased by 1.4%, a climb significantly surpassing typical long-term averages, and have surged by 2.3% since early 2026.
“With the advent of this year, Manheim’s prices commenced an upward trajectory, driven by dealers’ expectations of substantial consumer demand fueled by larger tax reimbursements,” stated Jeremy Robb, Cox Automotive’s lead economist.
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The Manheim data illustrated that wholesale prices for pre-owned vehicles escalated to their peak in almost three years. (Bess Adler/Bloomberg via Getty Images)
Robb further mentioned, “Sales conversion figures, a distinct indicator of demand, exceeded those of 2025 for all but one week in the first quarter, and auction vehicle value patterns demonstrate we are considerably ahead of last year’s performance and our usual position during a seasonal spring surge in the wholesale sectors.”
He also remarked, “We had anticipated some repercussions from the Mideast conflict, and that possibility remains. However, currently, the figures are unambiguous: the appetite for pre-owned vehicles is robust, and stock levels are comparatively constrained.”
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Cox stated that the effect of the Middle East conflict on U.S. buyer demand remains uncertain. (David Paul Morris/Bloomberg via Getty Images)
The Manheim analysis observed a fortification in purchaser engagement and heightened rivalry for the existing stock within wholesale channels, with the sales conversion metric climbing to 68.2% in March. This represents a 4.6 percentage point increase over the latest three-year average for March and a 5.5 percentage point ascent from February’s upwardly adjusted rate of 62.7%.
Pre-owned electric vehicles (EVs) likewise demonstrated vigor in the first quarter, exhibiting stable pricing and brisk activity as their values escalated in tandem with the seasonal uptick.
The report highlighted that pre-owned EVs provide shoppers cost-effectiveness benefits compared to new EVs, concurrently with a growing influx of off-lease EVs entering wholesale avenues.
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The report indicated robust demand for pre-owned EVs, attributed to their cost advantage over new electric models. (David Paul Morris/Bloomberg via Getty Images)
Consumer sales of pre-owned vehicles also exhibited impetus, with Q1 sales rising approximately 2% year-over-year. Stock levels also became scarcer, as the days’ supply indicator fell under 40 in March, marking this year’s nadir and a reduction from the previous year.
Cox Automotive’s projection for 2026 anticipates pre-owned vehicles maintaining a more robust-than-forecasted beginning to the year, subsequently counterbalanced by a milder latter half of 2026, leading to an overall 1% annual decrease in total used vehicle sales.
Robb commented, “As summer approaches, we foresee Manheim valuations sustaining their stability, given that numerous additional consumers have yet to submit their tax declarations this year.”
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Robb concluded, “Historically, late March marks the ‘zenith’ for pricing movements at Manheim. While the Middle East conflict has the potential to depress the confidence of the American consumer, this has not yet materialized – our information reveals the economy’s steadfastness.”