FX.co ★ US Used Car Prices Fall in March

In March 2025, the Manheim Used Vehicle Value Index for the U.S. experienced a 0.7% decline from the previous month, mirroring February’s rate of decrease. According to Jeremy Robb, Senior Director of Economic and Industry Insights at Cox Automotive, March traditionally sees the strongest performance in the wholesale market, often resulting in increased values. "Although typically there are value surges, this year did not meet those seasonal expectations, hence the drop reflected in the Index," Robb explained. Despite this, he noted that retail demand for used vehicles remained robust, with days' supply finishing at low points, a factor that continued to drive significant activity at Manheim auctions. Robb also mentioned that while initial projections indicated that price increases had peaked in the middle of the month, an unexpected uptick in wholesale value gains was observed during the final week. Looking forward, he remarked that potential tariffs might drive wholesale prices higher in upcoming weeks as the market adjusts to new trade barriers.