According to Cox Automotive’s analysis of vAuto Live Market View data, March used-vehicle inventory levels declined for the third straight month and were lower year over year, falling to the lowest level since at least 2019, when the current vAuto data sets begin.
Backed by healthy tax refunds and continued affordability challenges in the new-vehicle market, the used-vehicle sales pace improved in March in a seasonally normal pattern, resulting in a significant tightening of days’ supply. Average listing prices increased modestly from February.
1.95M
Total Inventory
37
Days’ Supply
$25,390
Average Listing Price
USED-VEHICLE INVENTORY VOLUME
Nationwide, dealers – both franchised and independent – had a total supply of 1.95 million used vehicles on their lots in March. That figure is the lowest on record in the current data set dating back to 2019 and is 5.9% lower than a year ago. Available inventory volume is approximately 8.3% lower compared to the 2.13 million available in February.
USED-VEHICLE RETAIL SALES
The retail used-vehicle sales pace was strong in March, but lower by 2.9% compared to a year ago. Used retail sales volume in March is estimated at 1.62 million vehicles, up from the 1.37 million in February and at the highest level in a year. The daily sales pace in March was higher versus February by 7%.
March is typically the strongest month of the year for used-vehicle sales, and 2026 was no exception. While sales fell short of last year’s tariff-announcement-driven surge, March 2026 outperformed 2023 and 2024 and was in line with 2022 levels, when new-vehicle inventory was historically tight. Demand remained healthy throughout March, likely supported by strong tax refunds, continued improvement in credit availability, and the strong value proposition of used vehicles relative to new.
USED-VEHICLE INVENTORY DAYS’ SUPPLY
The Cox Automotive days’ supply is based on the estimated daily retail sales rate for the most recent month. Days’ supply of used vehicles dropped to 37 in March, down 2 days year over year and lower by 7 days from the revised February measure, as sales increased and volume declined to its lowest level on record. Supply remains constrained compared to recent years, and the days’ supply reading in March was at the lowest level since 2021.
AVERAGE USED-VEHICLE LISTING PRICE
The average used-vehicle listing price was $25,390, up less than 1% compared to the levels observed a year earlier and higher by 0.7% from the revised $25,209 recorded in February, a month-over-month increase consistent with typical March trends.
Price-conscious buyers have limited options for affordable used vehicles. Used cars priced below $15,000 continue to have low availability, with only 27 days’ supply, which is 11 days below the overall industry average. The top five sellers of the month had an average price of $23,861, nearly 6% below the average listing price for all used vehicles sold. Once again, Ford, Chevrolet, Toyota, Honda and Nissan were the top-selling brands, accounting for nearly 51% of all used vehicles sold.
CPO Sales Down in March
Certified pre-owned (CPO) sales decreased 11.2% year over year in March, according to data reviewed by Cox Automotive. CPO sales in March were up 9.2% month over month, though not as strong as the new-vehicle market, which also rose from February but was lower year over year. March’s CPO sales are estimated at 221,840, up from 203,086 in February. CPO share of total used-vehicle sales was 13.7%, down from 14.7% in February.
