Used Market Conditions
According to ADESA US Analytical Services’ monthly analysis of auction industry used vehicle prices by vehicle model class, wholesale prices in February averaged $15,311, up 3.9% compared to January, down 5.7% relative to February 2022, and up 42.1% versus pre-pandemic/February 2019. All model class segments showed average price increases for the month with the exception of fullsize vans, which were modestly down.
Average prices have continued to increase in March and stood at $16,525 for the week ending March 19th. Late-model price growth in part reflects strong demand for CPO-eligible units. Average prices for this group of vehicles have also continued to increase in March and stood at $26,054 for the week ending March 19th.