Wholesale used car prices dipped in February 2025 despite late-month rebound

SUVs at Craig and Landreth Jeffersonville

SUVs

Historical market report: February 2025. The figures below summarize Cox Automotive’s March 7, 2025 report and do not describe today’s vehicle prices.

In February 2025, wholesale used vehicle prices declined from January on a mix, mileage and seasonally adjusted basis. Cox Automotive reported that the Manheim Used Vehicle Value Index (MUVVI) stood at 204.1, which was 0.1% above February 2024.

Market segment performance:

  • Luxury vehicles: Prices rose by 1.2% year-over-year.
  • SUVs: Experienced a modest 0.2% increase.
  • Compact cars: Saw the largest decline, dropping 4.8%.
  • Mid-size sedans: Decreased by 3.5%.
  • Trucks: Fell by 0.6%.

Electric vehicles (EVs):

  • EV values decreased by 0.2% compared to January 2025 and were down 6.2% year-over-year.
  • Non-EVs declined by 0.5% month-over-month and 0.5% year-over-year.

Retail market insights:

  • Retail used-vehicle sales increased by 8.0% from January and were up 8.0% year-over-year.
  • The average retail listing price decreased by 0.6% over the last four weeks.
  • Retail used days’ supply ended at 45 days in February, down from 48 days in January and 50 days in February 2024.

New vehicle sales:

  • Sales volume increased by 10.6% from January but was down 0.7% year-over-year.
  • The seasonally adjusted annual rate (SAAR) for February was 16.0 million, up from 15.5 million in January and 0.3 million higher than the previous year.

Jeremy Robb, senior director of Economic and Industry Insights at Cox Automotive, noted that the “spring bounce” in wholesale markets started slower this year but gained momentum by the end of February. He also highlighted that retail supply of used units is tighter than last year, with tax refunds motivating consumers to purchase used vehicles, leading to stronger dealer demand in the last week of the month.

Overall, while February saw a slight dip in wholesale used vehicle prices, certain segments like luxury vehicles and SUVs showed resilience, and the retail market experienced growth in sales.