The Manheim Used Vehicle Value Index (MUVVI) rose to 212.3, reflecting a 4% increase for wholesale used-vehicle prices (adjusted for mix, mileage, and seasonality) compared to February 2025.
The February index is up 0.8% month over month. The long-term average monthly move for February is a decrease of 0.2%.
Non-adjusted wholesale vehicle prices are now up 4.2% year over year, and up 3% against January 2026. The long-term average monthly move in non-adjusted values is an increase of 0.9% in February.
“Now that we are officially in March, with warmer weather ahead across much of the U.S., we have seen retail demand increasing in our most recent data points – for both new and used sales,” Jeremy Robb, chief economist, said. “The average tax refund is running 10% higher this year, as we hit some of the strongest weeks for consumer filing, and we are expecting to see that translate to more traffic at dealerships in March.
“At the same time, recent geopolitical events introduce new risks to the economy, and that may put a damper on consumer appetite in the short run, as people digest the news in the Middle East. This could slow the building pace we see on the back of tax refund season, particularly as gas prices rise. All in, the impact may be more acutely felt early in the month, with a pickup in demand building as we move through March.”
Overall market prices were up notably from a year ago, led by the luxury segment and non-electric vehicles, while compact cars and trucks posted the weakest gains.
