At the start of May 2025, used-vehicle inventory in the U.S. rose slightly to 2.22 million units, up from April but still 1% below levels from a year earlier, according to vAuto Live Market View data.

Retail used-vehicle sales declined nearly 4% month-over-month in April to 1.57 million units, as the seasonal "spring bounce" and early tariff-related demand tapered off.

Despite this, sales were still 12% higher than in April 2024. Tax refunds—averaging $2,947, a 3% year-over-year increase—continued to support elevated demand.

Days’ supply of used vehicles increased to 43, up two days from April but down five days from last year, marking the tightest supply for this time of year since 2021.

Prices rose for the second consecutive month, with the average listing reaching $25,547, matching year-ago levels. Affordability remains a concern, especially for vehicles under $15,000, which had only 32 days’ supply—10 days below the industry average.

The top five best-selling vehicles averaged $23,926—over 6% below the overall average price—with Ford, Chevrolet, Toyota, Honda, and Nissan making up 51% of all used vehicle sales.