The used-vehicle market showed signs of moderation in June, with inventory levels increasing as the pace of retail sales slowed, according to Cox Automotive’s analysis of vAuto Live Market View (VMA) national monthly data. Average listing prices were essentially flat at $27,027, after gains in each of the previous three months, and remain up 6% year over year.
2.14M
Total Inventory
47
Days’ Supply
$27,027
Average Listing Price
USED-VEHICLE INVENTORY VOLUME
Combined franchised and independent auto dealers had a total supply of 2.14 million used vehicles on their lots in June, up 0.2% year over year and higher by 1% from May. While supply improved modestly, inventory levels remain constrained compared with recent historical norms.
USED-VEHICLE RETAIL SALES
The retail used-vehicle sales pace softened in June, down 1.6% compared to a year ago and down 1.9% from May. The month-over-month slowdown aligns with seasonal patterns typically seen at the start of summer, though higher vehicle prices and broader economic pressures likely contributed to weaker sales activity.
Even so, the market remains resilient. Used vehicles continue to offer a compelling value proposition compared with new models, and improving credit availability is helping support consumer demand. Credit access reached its highest level since December 2015 in June, providing buyers with greater financing opportunities.
Ford, Chevrolet, Toyota, Honda and Nissan remained the top-selling used-vehicle brands in June, collectively accounting for nearly half of all retail used-vehicle sales.
USED-VEHICLE INVENTORY DAYS’ SUPPLY
The days’ supply figure is based on the estimated daily retail sales pace for the most recent month and rose to 47 in June, up 1 day year over year and up 2 days from the revised May measure of 45. Compared to May, inventory volume was up 1% while the sales pace decreased 2%, resulting in a 2.9% increase in days’ supply.
AVERAGE USED-VEHICLE LISTING PRICE
The average used-vehicle listing price was $27,027 in June, up 6% compared to the levels observed a year earlier and mostly flat, higher by just 0.4%, from the revised $26,928 recorded in May. Average listing prices have increased in each of the previous three months and, in June, moved above $27,000 for the first time since the summer of 2023.
Prices rose across nearly every age group, reflecting the run-up in wholesale values observed at Manheim earlier in the year. A larger share of younger vehicles in the sales mix also helped push average prices higher.
Affordability remains a challenge for budget-conscious shoppers. Vehicles priced below $15,000 carried just 33 days’ supply in June — significantly below the overall market average of 47 days — underscoring the limited availability of lower-priced options.
CPO Sales in June
Certified pre-owned (CPO) sales increased 5% year over year in June, according to data reviewed by Cox Automotive. CPO sales in June were down 7.8% month over month. June CPO sales are estimated at 210,335, down from 228,148 in May. CPO share of total used-vehicle retail sales was 15.3% in June, down from 15.7% in May. Year-to-date, CPO sales are running approximately 2.1% below the same period last year.
