Critical Shifts:
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Inventory & Days' Supply On the Rise: Days' supply rose to 47 days in June (up 2 days from May and 1 day year-over-year) as inventory volume grew 1% while sales slowed.
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Listing Prices Hold Near Highs: The average used-vehicle listing price remained flat at $27,027 (up 0.4% from May), maintaining a 6% increase year-over-year and marking the first time average prices topped $27,000 since summer 2023.
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Seasonal & Price-Driven Sales Cooling: Retail used-vehicle sales fell 1.9% month-over-month and 1.6% year-over-year, driven by typical early-summer seasonal slowdowns, higher vehicle prices, and ongoing economic pressures.
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Low-End Affordability Squeeze: Budget options remain extremely tight—vehicles priced under $15,000 carried only 33 days' supply in June, well below the 47-day market average.
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Financing Accessibility Provides Support: Improving credit access—reaching its highest level since December 2015—along with a value edge over new models, continues to support underlying consumer demand.
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The used-vehicle market showed signs of moderation in June, with inventory levels increasing as the pace of retail sales slowed, according to Cox Automotive’s analysis of vAuto Live Market View (VMA) national monthly data.
Average listing prices were essentially flat at $27,027, after gains in each of the previous three months, and remain up 6% year over year.
The retail used-vehicle sales pace softened in June, down 1.6% compared to a year ago and down 1.9% from May. The month-over-month slowdown aligns with seasonal patterns typically seen at the start of summer, though higher vehicle prices and broader economic pressures likely contributed to weaker sales activity.
Even so, the market remains resilient. Used vehicles continue to offer a compelling value proposition compared with new models, and improving credit availability is helping support consumer demand. Credit access reached its highest level since December 2015 in June, providing buyers with greater financing opportunities.
Ford, Chevrolet, Toyota, Honda and Nissan remained the top-selling used-vehicle brands.
The days’ supply figure is based on the estimated daily retail sales pace for the most recent month and rose to 47 in June, up 1 day year over year and up 2 days from the revised May measure of 45. Compared to May, inventory volume was up 1% while the sales pace decreased 2%, resulting in a 2.9% increase in days’ supply.
The average used-vehicle listing price was $27,027 in June, up 6% compared to the levels observed a year earlier and mostly flat, higher by just 0.4%, from the revised $26,928 recorded in May. Average listing prices have increased in each of the previous three months and, in June, moved above $27,000 for the first time since the summer of 2023.
Prices rose across nearly every age group, reflecting the run-up in wholesale values observed at Manheim earlier in the year. A larger share of younger vehicles in the sales mix also helped push average prices higher.
Affordability remains a challenge for budget-conscious shoppers. Vehicles priced below $15,000 carried just 33 days’ supply in June – significantly below the overall market average of 47 days – underscoring the limited availability of lower-priced options.
