Used-Vehicle Retail Listing Prices Decline

Takeaway: Used retail listing prices in 2024 showed minimal variation throughout the year, with listing prices consistently lower each month compared to the previous year and ended 2024 lower by 4.5%. The average listing price of a retail used vehicle in the market was approximately $25,467 throughout 2024, which is 32% higher than in 2019 due to relatively tight used-vehicle inventory levels and fewer older, more-affordable used vehicles. Used-vehicle listing prices in 2024, however, were below prices seen in 2022 and 2023.

What’s next: For the past three years, used-vehicle listing prices have consistently been lower than the previous year’s levels. While this trend has continued into early 2025, prices are now the closest they have been to the previous year’s levels since 2023. Implementing tariffs on new vehicles is expected to exert upward pressure on used-vehicle pricing due to increased demand.