Retail Used-Vehicle Sales Increase in January, Up 8% Year Over Year

According to an analysis of Cox Automotive’s vAuto Live Market View data estimates, retail used-vehicle sales in January¹ increased month over month compared to December.

A total of 1.41 million used vehicles were sold at retail – from both franchised and independent dealers – during January, up 8% year over year. Days’ supply of used vehicles at the beginning of January was 48, two days lower than the downwardly revised December level.

Monthly Used-Vehicle Retail Sales Volume

Scott Vanner, senior analyst of Economic and Industry Insights at Cox Automotive, noted: “Used retail vehicle sales usually rise this time of year. Although this year’s sales percentage increase exceeds last year’s, it is still below previous years.”

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 Decrease Month Over Month in January

While retail used-vehicle sales increased, certified pre-owned (CPO) sales decreased month over month in January, according to data reviewed by Cox Automotive. CPO sales in January were up 0.7% year over year. This month-over-month decrease is likely due to not only having one fewer selling days in January but also the tight supply of off-lease and trade-in vehicle units. January’s CPO sales are estimated at 203,071, down from 216,955 in December, marking a 6.4% decrease.

Used Market Forecast and Outlook for 2025

Cox Automotive is forecasting retail used-vehicle sales in 2025 to reach 20.1 million, an increase of approximately 1.2% compared to 2024. Sales growth is expected to remain muted, as retail and wholesale supply will continue to be constrained in the coming year due to lower production during the pandemic and fewer lease maturities returning to the market.

For 2025, Cox Automotive forecasts growth in every sales metric except certified pre-owned sales. CPO sales are anticipated to drop by 1.6% in 2025 to 2.5 million due to fewer lease maturities.

¹Beginning in Q4 2024, 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. Previously, the estimate was based on sales reported within a calendar month.