In early June, used-vehicle inventory levels in the U.S. were slightly lower than in May, with 2.26 million units available, compared to 2.27 million units at the start of May. This is a 3% increase from the previous year. Sales picked up in May after a slow April, influenced by an unremarkable tax refund season. New and used vehicle sales both saw increases in May, but while new-vehicle inventories grew, used-vehicle inventories shrank.

The days’ supply of used vehicles decreased to 45 days in June from 48 days in May, which is 8% lower than the previous year. The average listing price for used vehicles was $25,670, a slight increase from May but a 6% decrease year-over-year. Affordability remains an issue, particularly for cars under $15,000, which have a constrained supply of just 34 days, 22% below the average. The top sellers—Ford, Chevrolet, Toyota, Honda, and Nissan—accounted for 52% of all used vehicles sold, with an average price of $23,999, 7% below the overall average listing price.