Used Vehicle Market Conditions
Average wholesale used vehicle prices in January were solidly up relative to December, ending a streak of seven monthly declines in the latter part of 2022. These price increases have continued into February.
According to ADESA US Analytical Services’ monthly analysis of auction industry used vehicle prices by vehicle model class, wholesale prices in January averaged $14,733 – up 4.2% compared to December, down 10.0% relative to January 2022, and up 36.9% versus pre-pandemic/January 2019. All model class segments showed average price increases for the month.
Average prices have increased so far in February and stood at $15,161 for the week ending February 12th.