Used car prices rise to a two-year high, defying expectations of price drops.

Used car prices have risen unexpectedly, with the Manheim Used Vehicle Value Index for March 2026 increasing 6.2% year over year to 215.3, marking a two-year high. Wholesale prices also climbed 5.7% year over year and 4.2% month over month, indicating strong demand and tight inventory. This challenges bearish views predicting price normalization and suggests a continued period of elevated used car prices, benefiting companies like Carvana.