Used-vehicle inventory fell to 2.22 million units at the start of April.
Used days’ supply fell to 44.
The average used-vehicle listing price slipped to $25,407.
Total Unsold Vehicles*
Month
Amount
January
2.33M
February
2.27M
March
2.22M
Average Mileage*
Month
Amount
January
69,240
February
70,053
March
69,232
Days’ Supply*
Month
# of Days
January
49
February
44
March
44
Average Listing Price*
Month
Amount
January
$25,638
February
$25,151
March
$25,407
Used Vehicle Value Index**
Month
Value
January
202.1
February
203.8
March
199.2
Average Trade-In Equity***
Month
Amount
January
$8,345
February
$7,912
March
$7,558
“Affordability matters more than ever to consumers, and declines in used-vehicle prices help offset higher interest rates. Once tax return season got underway, many consumers had more income to use as a down payment, driving customers into retail dealerships.”
– Jeremy Robb, Senior Director of Cox Automotive Economic and Industry Insights
