April brought another increase in the Manheim Used Vehicle Value Index, which tracks wholesale auction prices, rising 4.9 percent compared with a year earlier. According to Cox Automotive, which operates the index, prices also climbed 2.7 percent over March.
In plain terms, dealers are paying more to stock their lots, and those costs tend to reach consumers. The steady upward march signals continued pressure on used car prices, offering little hope of relief for budget-conscious shoppers.
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