The total supply of used vehicles on dealer lots (franchise and independent) stood at 2.27 million units.
The average used-vehicle listing price was $25,571, up slightly from the revised $25,536 at the start of April but down 6% from a year earlier.
Affordability remains challenging for consumers and supply is more constrained at lower price points.
Total Unsold Vehicles*
Month
Amount
February
2.27M
March
2.22M
April
2.27M
Average Mileage*
Month
Amount
February
70,053
March
69,232
April
69,224
Days’ Supply*
Month
# of Days
February
44
March
44
April
45
Average Listing Price*
Month
Amount
February
$25,151
March
$25,407
April
$25,571
Used Vehicle Value Index**
Month
Value
February
203.8
March
199.2
April
199.1
Average Trade-In Equity***
Month
Amount
February
$7,912
March
$7,558
April
$8,004
“As tax refund season winds down, it’s normal to see consumer demand for used vehicles back off in April, and that’s what we experienced this year as well. With interest rates remaining elevated, consumers need a bit more of a push to buy at this time of year.”
– Jeremy Robb, Senior Director of Cox Automotive Economic and Industry Insights
