Columbus drivers hoping to score a deal on a used ride are running into a tougher reality this spring. Wholesale used-vehicle prices climbed again in March to their highest point since the summer of 2023, which is tightening supply on dealer lots and nudging sticker prices higher. With more buyers looking for cheaper alternatives to new cars, the auction lanes have turned into a full-contact sport.
According to Cox Automotive, the Manheim Used Vehicle Value Index rose 6.2% year‑over‑year in March to 215.3, which is its highest reading since summer 2023. Cox also reported that values were up 1.4% month to month and that sales conversion at Manheim hit 68.2%, a level that signals unusually strong demand from dealers.
"Sales conversion rates, a clear sign of demand, were higher against 2025 for every week but one in Q1," Cox chief economist Jeremy Robb said in the Manheim report, according to Cox Automotive. He added that the Middle East conflict "may still have an impact," but said early‑year data show resilient demand even as inventories stay tight.
Why inventory is tight
Industry analysts say the squeeze at auctions is pushing wholesale asking prices higher. The non‑seasonally adjusted average wholesale price hit about $20,102 in March, according to Axios. Manheim data put retail days' supply below 40 in March, and Autoweek reports that wholesale supply slipped to roughly 24.5 days, leaving dealers scrambling for stock and keeping pricing power firmly on their side.
What it means in Columbus
The national crunch is landing directly in Central Ohio. Many area dealers rely on the regional Manheim auction in Grove City to fill their lots, and Manheim Ohio, at 3905 Jackson Pike in Grove City, is a major wholesale hub for Columbus-area stores. When lanes tighten there, it typically shows up quickly as higher list prices and fewer true bargains on local used-car rows.
Gas prices, EVs and what to watch
Higher gas prices have pushed some buyers to kick the tires on used EVs instead of another gas-burner. Manheim reported record wholesale EV volumes for the quarter, adding one more pocket of demand to an already hot market. At the same time, GasBuddy petroleum analyst Patrick De Haan wrote that "gas prices could start reversing nationally in 48 hours or so" if geopolitical tensions ease, a view reported by Newsmax. If prices at the pump back off, some shoppers may delay buying, which could take a little pressure off used-vehicle values.
For Columbus buyers, this all adds up to more homework and tougher negotiations. Shoppers are advised to cast a wide net, compare auction-level pricing with retail asks, and think carefully before trading in a vehicle that might fetch a strong wholesale bid. Dealers warn that spring is often the seasonal peak for used-car prices, so choppy, short‑term moves are likely to continue even if gas prices calm down.
