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Used car prices rise to highest point since summer 2023
Cox Automotive said used-vehicle demand remains strong as supply fell below 40 days and the average listed price reached $25,287 in February.
- Used car prices reached their highest level since summer 2023 on Tuesday, driving Hertz Global Holdings shares higher as the market reflects continued strength, according to CNBC.
- The Manheim Used Vehicle Value Index increased 6.2% last month compared with a year earlier, as retail prices for consumers traditionally follow changes in wholesale prices.
- Supply for used vehicles fell below 40 days in March, marking the lowest level in 2026; Cox Automotive reports this limited inventory persists despite strong demand.
- Rising used vehicle prices support Hertz's vehicle resale value and fleet returns, while Cox raised its 2026 used vehicle sales forecast to 20.4 million units from 20.3 million.
- Cox Automotive chief economist Jeremy Robb said used-vehicle demand remains healthy despite Middle East tensions and the Iran war, with prices forecast to rise about 2% this year.
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Total News Sources18
Leaning Left0Leaning Right3Center10Last UpdatedBias Distribution77% Center
Bias Distribution
- 77% of the sources are Center
77% Center
C 77%
R 23%
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