After years of volatile pricing swings, used car prices are projected to continue stabilizing in 2025. Cox Automotive predicts a modest 1.4% increase in wholesale prices this year, following a period of significant declines.
Used vehicle prices are expected to continue to stabilize in 2025, after several years of volatile pricing swings that began to normalize last year. Auto data and logistics firm Cox Automotive expects wholesale prices on its Manheim Used Vehicle Value Index will end this year 1.4% higher than in December 2024. This year's increase would compare with a 0.4% rise in 2024 following drops of 7% and nearly 15% in 2023 and 2022, respectively.
Used vehicle prices are expected to continue to stabilize in 2025 after swinging wildly for several years before starting to calm down in 2024.on its Manheim Used Vehicle Value Index, which tracks prices of used vehicles sold at its U.S. wholesale auctions, will end this year 1.4% higher than in December 2024. Pricing will fluctuate month to month due to selling seasonality and other factors, but it's not expected to be as drastic as in previous years, according to Cox.following drops of 7% and nearly 15% in 2023 and 2022, respectively, from inflated prices during the Covid-19 pandemic. Index used vehicle prices during that time increased at historically high rates of 46.6% in 2021 and 14.2% in 2020.The overall stability in pricing is a win for potential car buyers. However, used vehicle prices are still higher than they were before the pandemic. Retail prices for consumers traditionally follow changes in wholesale prices, but they have not fallen as quickly as wholesale prices in recent years. 'We are ending some of the moves from the pandemic,' Jeremy Robb, Cox Automotive senior director of economic and industry insights, said during a call Wednesday.'We're bound to see some volatility in our forecast.'The average index move at the end of each year is an increase of 2.3%, according to Cox data going back to 1997. That excludes the outlier years of 2021 and 2022
Used Car Prices Vehicle Market Stabilization Cox Automotive Auto Industry
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