Used-Vehicle Market Holds Steady as Inventory and Affordability Challenges Persist
At the start of June, used-vehicle inventory in the U.S. declined slightly from May but remained nearly unchanged year over year at 2.21 million units, according to Cox Automotive.
Retail used-vehicle sales held steady at 1.53 million units in May, maintaining gains from earlier in the year and showing a 4% increase compared to last year.
Days’ supply dropped to 43, marking the lowest level for this time of year since 2021 and three days below 2019 levels.
Prices declined modestly, with the average listing at $25,470—down slightly from May and 1% lower than a year ago.
Affordability remains an issue, especially for vehicles under $15,000, which had only a 31-day supply.
The top five selling brands—Ford, Chevrolet, Toyota, Honda, and Nissan—accounted for half of all used sales, with their average price nearly 7% below the overall market average.
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