Used Supply Tight After Spring Surge

Used-vehicle inventory entered June flat after May sales stayed constant month-over-month and compared to a year earlier.

Supply stood at 2.2 million units among franchised and independent stores, Cox Automotive data show. That amounts to a days’ supply of 43, down by one day from April and its lowest point for the time of year since 2021. That’s also three days under 2019 prepandemic levels. 

“While used-vehicle inventory dipped slightly in May, the market remains remarkably stable,” said Cox Manager of Economic and Industry Insights Scott Vanner. 

“Steady sales and a modest decline in listing prices suggest that consumer demand is holding firm – even as affordability challenges persist. The resilience we’re seeing, especially with strong performance from mainstream brands, underscores a healthy used-vehicle sector heading into summer.”

Inventory proved lower for the least expensive models. Those priced for less than $15,000 were in 31 days’ supply, down five days year-over-year and 12 days under the overall used market average, Cox said.

May’s used sales pace was flat at 1.5 million units. Though down from the March-April spike from consumers rushing to beat U.S. trade tariff price inflation, that’s up 4% year-over-year.

Used-vehicle prices, despite the tight supply, actually fell 1% year-over-year to an average listing of $25,470 after rising for two straight months, Cox said. 

Certified preowned sales alone were essentially also flat month-over-month but up 2% year-over-year to an estimated 231,000 units. Their year-to-date deliveries are up about 4%, according to Cox.

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