FX.co ★ Used Car Prices in the US Rise the Most in 9 Months

In January 2026, the US Manheim Used Vehicle Value Index witnessed a significant 2.4% surge month-over-month, marking the highest uptick since April of the previous year. This compares to a modest 0.1% rise observed in December. Electric vehicle (EV) prices edged up by 0.4% from December, while non-electric vehicles saw a more substantial 2.2% increase. "We anticipated a strong January in terms of pricing, yet wholesale values accelerated even more rapidly than expected due to robust retail demand," stated Jeremy Robb, Chief Economist at Cox Automotive. This situation propelled the Manheim Index to its highest level since September 2023. Robb further noted, "As tax refund season commenced last week, we predict that more consumers will receive refunds, with the amounts likely reaching a new record. These factors are expected to drive consumers towards making significant purchases." On an annual basis, used car prices rose by 2.4%, with the luxury vehicle segment leading the way at 1.6%, and non-electric vehicles following closely at 2.2%. Conversely, compact car prices dipped by 0.2%. Meanwhile, EV prices experienced a 0.8% increase.