Wholesale used vehicle prices were down -0.7% MoM but still up a slight 0.1% YoY in the final February release.

• The non-adjusted price index was up 1.4% MoM and 0.8% YoY in February, down from 1.1% YoY in January.
• Over the last four weeks, the Three-Year-Old Index increased an aggregate of 0.5%. Those same four weeks delivered an average increase of 0.2% between 2014 and 2019, indicating valuation trends were stronger than we usually experience at this time of year.
• Cox Auto: “With gray days and winter storms, it’s not uncommon to see some volatility in wholesale trends relative to long-term run rates in February, and that’s what we experienced over the course of the last four weeks.”