The total supply of unsold used vehicles is up 9% from a year ago
Days’ supply is up 2% year over year
The average used-vehicle listing price is down 3% year over year
Total Unsold Vehicles*
Month
Amount
December
2.39M
January
2.33M
February
2.27M
Average Mileage*
Month
Amount
December
69,794
January
69,240
February
70,053
Days’ Supply*
Month
# of Days
December
56
January
49
February
44
Average Listing Price*
Month
Amount
December
$26,446
January
$25,638
February
$25,151
Used Vehicle Value Index**
Month
Value
December
209.1
January
202.1
February
203.8
Average Trade-In Equity***
Month
Amount
December
$8,521
January
$8,345
February
$7,912
“Historically used retail sales peak in March or April of a given year as tax refunds inject money into the economy. As the average tax refund is up 6% so far in 2024, consumers have been driven to the used retail market earlier in the year, leading to stronger used-vehicles sales in February than we have seen the last couple of years.”
– Jeremy Robb, Senior Director of Cox Automotive Economic and Industry Insights
