ATLANTA -

The Manheim Used Vehicle Value Index literally is on a record-breaking start to the year.

Cox Automotive reported wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) increased 1.35% month-over-month in February. This movement pushed the index up by 6.2% from a year earlier, leaving the index at a new record high of 143.5.

The index reading now has been at or above the 140 mark for seven of the past nine months.

“After a normal and steady trend in weekly Manheim Market Report (MMR) prices in January, February saw prices rise as the month ended,” Cox Automotive said in its update that accompanied the latest index reading.

Analysts made special mention of 3-year-old vehicles, noting that values in aggregate increased 1.1% on a sequential basis in February.

“Both non-luxury and luxury vehicles saw similar gains,” Cox Automotive said. “This February’s performance was notably stronger than last year, as prices relative to the beginning of the year are up 0.9% when they were down 1.9% at this point last year.”

Looking at the wholesale market overall, Cox Automotive indicated all six vehicle categories that analysts track moved higher year-over-year in February.

Luxury cars led the way with a gain of 8.1%, with SUVs/CUVs generating a rise of 5.6%. Midsize car values climbed 4.0% followed by pickups (up 3.0%) and compact cars (up 2.6%). Van values edged up by 0.5%.

Also of note, Cox Automotive pointed out rental-risk pricing increased, too.

Analysts determined the average price for rental risk units sold at auction in February jumped 6.4% year-over-year. Rental risk prices ticked up 0.9% compared to January.

Cox Automotive added that average mileage for rental risk units in February at 52,000 miles represented a 16% spike compared to a year ago and a 1% rise month-over-month.