Used-Vehicle Retail Sales Rise in August; CPO Market Shows Continued Strength Despite Tight Supply

According to an analysis of Cox Automotive’s vAuto Live Market View data estimates, retail used-vehicle sales in August increased month over month compared to July.

A total of 1.55 million used vehicles were sold at retail – from both franchised and independent dealers – during August, up 4.9% month over month and up 8.1% year over year. Days’ supply of used vehicles in the most recent report was 43, down one day from the upwardly revised level at the beginning of August and down two days compared to the same time last year.

The 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.

Monthly Used-Vehicle Retail Sales Volume

Scott Vanner, manager of Economic and Industry Insights at Cox Automotive, noted: “Retail used-vehicle sales showed solid momentum in August, with both month-over-month and year-over-year gains pointing to resilient consumer demand. Despite inventory challenges, the market continues to perform above expectations.”

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 Again in August

Certified pre-owned (CPO) sales increased 7% month over month in August, according to data reviewed by Cox Automotive. CPO sales in August were up 0.9% year over year. CPO is still running surprisingly strong, given the supply limitations in place. August’s CPO sales are estimated at 238,659, up from 236,533 in July. 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.