Used Retail Vehicle Sales Increase in November

According to an analysis of Cox Automotive’s vAuto Live Market View data estimates, retail used-vehicle sales in November¹ increased by nearly 2% month over month from October. 

A total of 1.4 million used vehicles were sold at retail – from both franchised and independent dealers – during November, up 13% year over year. Days’ supply of used vehicles at the beginning of December was 46, down from a revised 47 days at the beginning of November.

Monthly Used-Vehicle Retail Sales Volume

“Sales are running seasonally stronger than we usually see,” said Scott Vanner, senior analyst of Economic and Industry Insights at Cox Automotive. “As consumers shy away from bad weather and the holiday season cuts down on selling days, used sales trends in Q4 generally start to slow down a bit. This year, we are seeing stronger-than-usual performance, with sales up by double digits compared to last year.

The retail used-vehicle sales estimates are based on observed unit changes tracked by vAuto, a Cox Automotive brand specializing in inventory management.

CPO Sales Increase Month Over Month in November

Both overall retail used-vehicle sales and sales of certified pre-owned (CPO) vehicles Increased month over month in November, according to data reviewed by Cox Automotive. However, CPO sales in November were down 3.5% year over year, or 5,436 fewer units. In addition to fewer selling days, this decrease is likely due to the lack of supply of off-lease and trade-in units. Last month’s CPO sales are now estimated at 208,708, up from 203,272 in October, marking a 2.7% increase. The year-to-date total CPO sales volume is 3.5% lower compared to the same period last year. Cox Automotive’s year-end forecast for CPO remains steady at 2.6 million, with a minor surge expected in December.

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.