Used, New Inventories Tell Different January Stories
Used sales, buoyed by EV shoppers, cut into supply while harsh winter put a damper on new-vehicle business, padding inventory.

Despite the supply decline, the average used-vehicle listing price fell 4% year-over-year, though it's still far higher than prepandemic levels.
IMAGE: Pexels/Tom Fisk
Used-vehicle inventory fell in January as new-vehicle supply grew.
Used sales, though flat year-over-year, rose over December numbers, leading to a 2.5% drop in that segment’s supply over the month to 2.3 million units, though that’s up year-over-year by 7%, Cox Automotive said. Days’ supply stands at 49, down 16% month-over-month but up 1% year-over-year.
Used electric vehicle sales figured in the supply dip, Cox said, eating up some inventory.
Despite the supply decline, the average used-vehicle listing price also fell 4% year-over-year to $25,328, which is still far higher than prepandemic levels, Cox said. It expects used supply to revive later this year.
New Supply Balloons
Meanwhile, slowed new-vehicle sales padded inventory in that segment to its highest level since early in the pandemic.
Days’ supply stood at 80 at the end of January, up 38% year-over-year and the most since June 2020, when it was 83, Cox said. That amounts to 2.6 million units, up a dramatic 50% year-over-year.
The supply bump resulted from January new-vehicle sales falling to a 15 million seasonally adjusted annual rate, which Cox pegged as the lowest SAAR since last March. It blamed a rough winter in many parts of the country, as the average listing price was actually down 1% year-over-year to $47,142.
More Dealer Ops

Dealer Debrief: Defection Data & EV Updates
In this week's debrief, host Lauren Lawrence discusses how to use defection data to your advantage and the latest on EV sales and charging infrastructure.
Read More →
How Defection Data is Bridging the Dealership Conversion Gap
Lead volume is flat, cross-shopping is up and brand loyalty is in retreat. As confident sales teams keep losing buyers they thought they had, daily industry sales data is showing dealers exactly where their funnel is breaking and how to fix it without buying a single new lead.
Read More →
Dealer Debrief: Where are you losing customers?
In this week's debrief, host Lauren Lawrence discusses the hidden leaks in dealerships where you might be losing customers without even realizing it.
Read More →
Dealer Debrief: Improving Your Inventory Management
In this week's debrief, host Lauren Lawrence covers a new survey that shows what service technicians really want and two launches that could help improve your inventory and vehicle life cycle management.
Read More →
Ladies and Gentlemen, This Is a Dealership: Why the Fundamentals Still Decide Who Wins
A teaching moment by a legendary football coach happens to apply perfectly in the auto retail space. Learn what it is and how to use it to your store’s advantage.
Read More →
What Market Timing Mistakes Mean for Your Reinsurance Program
When volatility hits, dealer-owned reinsurance programs face a familiar temptation: pull back and wait for calmer waters. New data from BOK Financial shows why that instinct can quietly cost you years of surplus growth.
Read More →
Dealer Ads and the FTC
The agency has made it clear in recent enforcement actions and warnings, in auto retail and other industries, that advertised prices must include all nonoptional costs to the consumer.
Read More →
Used Autos Supply Dwindles
The March shopping surge, despite high prices, cut into inventory by the most since the thick of the pandemic, Cox Automotive analysts calculated.
Read More →
Managing Risk Effectively Through Changing Times
The variables influencing risk pricing have changed significantly over the past five years. Being proactive and responsive to emerging trends is not optional but essential.
Read More →
Survey Reveals What Won't Fix What's Breaking Car Sales
AutoPayPlus says extra-long auto loans are trapping consumers and threatening the dealer trade-in cycle, and that the industry is leveraging the wrong tools to combat high MSRPs.
Read More →
