Strong Used Vehicle Market in January

By Autogos Team

Strong demand for used vehicles in January as reported by Cox Automotive.

Strong Demand

The Manheim Used Vehicle Value Index increased 2.5% compared to December.

Increased Value

Record high prices in the used vehicle market leading to a 15% decline in the past year.

Record Highs

Average listed price of a used vehicle in December was $27,143, a 4% decrease from the previous year.

Listed Price Decrease

The used vehicle market has stabilized and resembles pre-pandemic normal.

Stabilized Market

Wholesale prices on the Manheim Used Vehicle Value Index expected to decrease 4.3% from December 2022.

Predicted Decrease

Elevated prices of used vehicles due to the impact of the COVID-19 pandemic on production and supply chain.

COVID Impact

January used vehicle market showed larger-than-expected increase due to unseasonably high demand.

Unexpected Increase