Used car prices rise in February, expected to peak in March

Used car prices rise in February, expected to peak in March

Nationwide, used vehicle prices rose 2.2 percent in February and are expected to peak in March, helped by tax refunds, say NADA Used Car Guide analysts. Prices are then forecast to drop an average of 2.5 percent to 3 percent per month from April through June.

As with many other sectors of the economy, this winters harsh weather dampened price growth to 0.7 percent for the first half of February. But improved weather in the second half raised prices by a total of 2.2 percent for the month. Compact and midsized cars outpaced other segments, as usual in February, with price growth of 3.2 percent each. Still, the growth was slightly lower than the five-year average for February.

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