Retail used-vehicle sales in May increased from April and were up by 15.9% month over month.
Total supply of used vehicles on dealer lots – franchise and independent – across the U.S. was at 2.26 million units at the end of May, up 3% from a year ago but slightly lower than the 2.27 million units at the start of May.
Total Unsold Vehicles*
Month
Amount
March
2.22M
April
2.27M
May
2.26M
Average Mileage*
Month
Amount
March
69,232
April
69,224
May
69,773
Days’ Supply*
Month
# of Days
March
44
April
45
May
48
Average Listing Price*
Month
Amount
March
$25,407
April
$25,571
May
$25,670
Used Vehicle Value Index**
Month
Value
March
199.2
April
199.1
May
197.3
Average Trade-In Equity***
Month
Amount
March
$7,558
April
$8,004
May
$7,866
“Following a less-than-spectacular spring selling season, May used-vehicle retail sales rebounded to the highest level so far this year. In fact, used retail sales volume is higher than any month since March 2022, when tax refunds were juicing the market.”
– Scott Vanner, Senior Analyst of Economic and Industry Insights at Cox Automotive
