ZeroSum, an automotive retail agency that provides inventory-based digital marketing solutions tailored to dealers, released its April State of the Dealer report. The ZeroSum State of the Dealer report shows used vehicle inventories declined by 4% on a month-over-month basis, falling below 1.9M for the first time since October 2023. The cause of this decline is the rapid increase in used vehicle movement in March—which was up by 17% from February’s results to 1.44M. This number is forecast to fall back somewhat in April but is also estimated to be above its recent range. Average marketed price rose for the first time since May 2023.

“Similar to new vehicles, used vehicles had a very strong showing in March after the seasonal rebound experienced in February,” said Jeff Englishmen of ZeroSum. “A second month of growth points to a more sustained trend, though it is expected that the rise will not necessarily be a straight line upward.”

The report shows new vehicle inventory levels continue to climb, edging up by 3% on a month-over-month basis.