A recording of the Q1 Manheim used vehicle value index call is available on Cox Automotive's website. Data shows a decline in used car value from February to March, but the unadjusted average price is up 23.2% year over year.
More but also less. Used car sales in March were 37% higher than in February. This increase is about 15% down from the expected seasonal increase. Delayed tax returns play a crucial role in the market's slow pace.
An estimated 45% of returns have arrived, whereas, in 2019, the IRS issued 71% of returns by the last week of March.