In February, wholesale used-vehicle prices went up by 4.3% compared to January, which is the largest February increase since 2009. However, retail sales of used cars decreased by 5% in February compared to January and were 9% lower than the previous year. The Manheim Used Vehicle Value Index (MUVVI) also increased to 234.5, but it was still 7.0% lower than the previous year. Seasonal adjustments contributed to the increase.

Based on vAuto data, February's estimated used retail days' supply was 41 days, down from 48 days in January and 13 days lower than in February 2022. On the other hand, wholesale supply, estimated using Manheim sales and inventory data, was 24 days, two days lower than in January and five days lower than in February 2022. In February, total new-light-vehicle sales increased by 8.7% year-over-year, with the February sales pace at 14.9 million. Fleet sales increased significantly year-over-year, making up 17.7% of the market share.