Used-Vehicle Inventory Remains Constrained Throughout Year

Takeaway: Used-vehicle inventory, including days’ supply, was constrained throughout 2024. The supply of used units fluctuated during the year, reaching a low in September before rising in the last three months, finishing the year 3% lower than its start and 7% below 2023 levels. Days’ supply increased to nearly 50 days in December, the third-highest level in 2024.

What’s next: To start 2025, used-vehicle inventory is tight, as it has been over 50 days at the beginning of January in the past four years and was nearly 60 days in 2019. At less than 42 days’ supply, February is also at the lowest level in the past six years and almost 17 days below the 2019 level.