Wholesale used-vehicle prices experience month-over-month increase in February

Let's talk about what's going on in the used car market because prices had been falling for some time. Now though it appears that they're ticking back up. What's going on? Yeah, so Mannheim, which tracks the wholesale auction market for used cars, says that for February the second month in a row they've seen car prices actually rise month over month. This is a surprise to them. 4.3% from January. Biggest monthly gain in February since 2009.

So this is not a small number here. They're saying that these elevated numbers are sort of happening because of the fact that potentially they're seeing demand pick up at the dealer level, at the used car dealer level. Sometimes you see that in the springtime, it's seasonal buying, tax refunds coming in. Those are the kinds of things that make people want to buy cars in the spring. So that's pretty interesting there. Also new car prices are chugging higher still at 8.7% year over year.

That's cost automotive. So that market's still kind of on fire still. But now the used market may be a little bit of bid there if you're wanting those cheaper cars. If Mr. Powell needs another reason for a 50 point hike, he may get it in the auto industry. Not that he needs it. I think he's already there.

I think he's there. I think it's safe to say. I think Jen Schomburg just asked about the Chevy Chevette, right? 1982 rising in prices. There we go. A curveball of a question. Fraser Marine, thanks so much.

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