According to an analysis of Cox Automotive’s vAuto Live Market View data estimates, retail used-vehicle sales in October1 increased month over month compared to September.
A total of 1.40 million used vehicles were sold at retail – from both franchised and independent dealers – during October, up 3.4% month over month and up 1.5% year over year. Days’ supply of used vehicles in the most recent report was 48, down one day from the beginning of October and up one day compared to the same time last year.
Monthly Used-Vehicle Retail Sales Volume
Scott Vanner, manager of Economic and Industry Insights at Cox Automotive, noted: “After stabilizing from a September slowdown, sales trended higher in October, likely driven by buyers viewing this as a favorable purchasing window, with factors such as improved credit access and the used market’s value proposition contributing to the momentum.”
The retail used-vehicle sales estimates are based on observed unit changes tracked by vAuto, a Cox Automotive brand specializing in inventory management. The vAuto Live Market View database provides guidance on sales pace and volume over time. Full-year sales volume, based on registrations and other sources, is updated annually.
CPO Sales Up in October
Certified pre-owned (CPO) sales increased 7.5% month over month in October, according to data reviewed by Cox Automotive. CPO sales in October were up 2.6% year over year, which is above the broader new-vehicle market. October’s CPO sales are estimated at 208,948, up from 194,341 in September. Year to date, CPO sales are running 2.6% higher than the same period last year.
1The estimated monthly retail used-vehicle sales number is based on vAuto Live Market View data from the most recent 30-day period. This change aligns the sales data in the monthly estimated sales report with the monthly inventory report. The historical data in the downloadable file has been updated to reflect comparable 30-day sales data. The 2024 implied sold and days’ supply numbers affected by the CDK outage have been normalized.
