Recent data from Cox Automotive shows used vehicle inventory levels in the United States declined slightly in early June, month-over-month, though remained relatively flat compared to a year ago.
The analysis was provided via the company’s vAuto Live Market View report, which found that the total number of unsold used vehicles numbered 2.21 million units as of June 2 — down from 2.22 million at the start of May and mostly unchanged from June 2024.
They also listed days’ supply as 43 (based on the estimated daily retail sales rate for the most recent 30-day period), the average listing price as US$25,470, and average mileage as 72,879.
“The retail used-vehicle sales pace was steady month over month in the most recent 30-day period,” said Cox Automotive in its report. “Used retail sales were at 1.53 million vehicles in May, unchanged from the 1.53 million reported in April. Following the run-up in March and the subsequent slowdown in April, used retail sales appear to be holding steady for the time being.”
They added that sales remain higher than in recent years, up 4 per cent compared to the previous year. However, Cox Automotive also said affordability is still an issue for consumers, and that the used-vehicle supply is more constrained at lower price points.
“Used cars priced below $15,000 continue to show low availability, with only 31 days’ supply, five days lower than the same time last year and 12 days below the overall industry average,” said the company. “The top five sellers of the month were listed at an average price of $23,779, almost 7% below the average listing price for all vehicles sold.”
The top-selling brands were Ford, Chevrolet, Toyota, Honda and Nissan were the top-selling brands. They accounted for 50 per cent of all used vehicles sold in the U.S.
