LAWRENCEVILLE, Ga.—Used vehicle values increased in March, reflecting a likely continuous trend for rising prices this year due to Trump tariffs.
According to Black Book’s Used Vehicle Retention Index, the seasonally adjusted Index increased 1.0% (1.5 points) I March to 147.9 from February 2025 (146.4), which is 2.6% below where it was at the same time in 2024.
“Values often increase at this time of year, but what set this March apart was the pace of the rise,” said Laura Wehunt, vice president of data and analytics at Black Book. “Market uncertainty stemmed from discussions about potential tariffs, while expectations of a reduced supply of used vehicles this year heightened competition. Additionally, the seasonal lift from tax refunds and spring purchases boosted demand. These factors combined to strengthen auction activity, leading to strong conversion rates and an increase in values that exceeded usual seasonal trends.”
The Black Book Used Vehicle Retention Index is calculated using Black Book’s published Wholesale Average value on two- to six-year-old used vehicles, as percent of original typically equipped MSRP. It is weighted based on registration volume and adjusted for seasonality, vehicle age, mileage, and condition.
To obtain a copy of the latest Black Book Wholesale Value Index, click here.