Used-Car Prices Leap on U.S. Economic Recovery, Supply Crunch
- Manheim’s pricing gauge jumped to a record high in April
- Prices boosted by short supply, improving economic outlook
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Used car prices in the U.S. are soaring.
The Manheim U.S. Used Vehicle Value Index, a gauge of pricing trends, soared to a fresh record Tuesday as factors ranging from chip shortages to a rebounding economy conspired to keep pressure on automotive inventories.