Manheim Forecasts Used Vehicle Market Growth

April 11, 2022

The Manheim Market Report predicts a strong second quarter for used vehicle sales and values following a slow first quarter. 

April 11, 2022—The Manheim Market Report predicts that the second quarter may be the strongest of the year for the used vehicle market. This comes after a decline in wholesale used-vehicle values in March, as reported by a Cox Automotive press release.

"We anticipate the second quarter–and particularly April–will be the strongest part of the year for used vehicle sales and values," said Cox Automotive Chief Economist Jonathan Smoke. Smoke anticipates that after the spring season demand may wane, but the Manheim Market Report does not expect a price crash in 2022, only depreciation. 

In March, Manheim reported that all major market segments saw seasonally adjusted prices that were higher, with vans having the largest year-over-year gains followed by compact cars. Manheim also cites delayed tax refunds as a contributing factor leading to used sales being down in March overall.

"Recent declines in the MUVVI are driven mostly by the seasonal adjustments. In fact, the wholesale used-vehicle market was gaining strength in the final weeks of Q1, a sign the spring bounce is finally here," said Chris Frey, senior manager of economic and industry insights at Cox Automotive. "We expect to see strengthening wholesale values in April and May, with an uptick in demand for used vehicles, driven in part by tax refunds putting more cash into the economy." 

Sponsored Recommendations

How one auto shop was able to order 20% more parts

Learn how one auto shop talks about the benefit of using PartsTech in their shop.

Vehicle Inspection Checklist For Auto Shops

Vehicle inspections, whether digital or on paper, are crucial for auto shops, ensuring thorough assessments and fostering trust by transparently revealing a vehicle's condition...

6 Reasons Why A Digital Vehicle Inspection Is A Must-Have

In an era of growing technology and innovation, auto repair shops must keep pace with the latest advancements to meet customers preferences and remain competitive.

How Your Auto Shop Can Now Connect To 30 Tire Suppliers For Free

Yep! We have over 50 tire suppliers in our network. And PartsTech is the only platform where you can access more than 30 of those suppliers FREE OF CHARGE.