By Steven Symes 
April saw the Manheim Used Vehicle Value Index, which measures prices of wholesale auction cars, increase 4.9 percent year over year. It was a 2.7 percent increase versus March, says Cox Automotive, which runs the index. In other words, what dealers are paying for used rides at auctions has gone up, which might in turn lead to higher prices for consumers.
Ferrari is worried tariffs are going to dampen its hot streak.
Cox Automotive says where the index sits after April 2025 is the highest its’s been since October 2023. The jump in auction values is being blamed on President Trump’s tariffs on imported cars. Still, they’re way off what we saw during covid.
However, Cox’s senior director of Economic and Industry Insights, Jeremy Robb, says despite the bump in the Manheim Used Vehicle Value Index for April, and “stronger than normal” retail sales, it’s possible once we move into the fall “the auto market may slow as strong demand likely pulled some transactions forward in March and April as buyers tried to get ahead of expected higher prices due to tariffs.”
Like we covered before, some people were panic shopping for vehicles before the tariffs went into effect. To counteract the situation, some automakers were offering price discounts through the middle of the summer on new models.
For the short term, we might see a bump in used car prices, but it could be that things will calm down again. Just keep in mind, forecasting markets is tricky and complicated, with people making their career out of getting ahead of trends to make big money, and they’re not always right.
It’s hard to know what the coming months will bring for sure. What we do know is for the Manheim Used Vehicle Value Index luxury vehicles were hot in April with the biggest increase at 5.9 percent year over year, the third month in a row where it led other market segments.
SUVs weren’t too far behind at 5.5 percent, but trucks only came in at 2.5 percent. Mid-size sedans saw a 0.8 percent increase while compact cars came in at negative 1.5 percent. In other words, you can still get a deal if you want to buy something that less popular.
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