Used vehicle inventory increased again in May, up 4.4% year-over-year (YoY) and marking the highest point in nearly four years, according to CarGurus. Inventory rose 3.4% month-over-month following a moderation in demand after the early-spring sales rush. As availability improves, dealer lots now offer consumers some of the broadest selection in recent memory.

Despite rising inventories, used demand remains notably resilient. The CarGurus Used Vehicle Demand Index climbed up by 4.4%, marking the strongest May performance since the record levels seen during the 2021 buying frenzy. Average days-on-market fell by 6% compared to last year, driven largely by higher vehicle turnover.

Average used vehicle prices stayed notably stable at $28,721, a modest 0.6% increase YoY. Market Days’ Supply remained steady at 45.7 days, up slightly from this time last year (+2.1% YoY), signaling balanced supply and consistent buyer interest.