Cox Automotive Used Vehicle Retail Sales

Data Transportation

Source: Cox Automotive
Source Link: https://www.coxautoinc.com/
Frequency: Monthly

Latest Updates

U.S. retail used-vehicle sales rose +2% MoM and +3% YoY in December to 1.34M units, showing an atypically strong year-end pickup in used auto demand.
- Days’ supply of used vehicles was 49, down 1 day from November but up 1 day YoY, suggesting inventory availability was slightly tighter than last month but marginally looser than a year ago.
- Cox noted the used-vehicle market “exceeded expectations” in 2025, with December’s strength helping cap the year above what the firm anticipated.
- Cox expects retail used-vehicle sales to slip modestly in 2026 due to “economic pressures” and constrained supply tied to lower production volumes, though it flagged Q1 as a potential bright spot driven by larger-than-expected tax refunds.
- Certified pre-owned (CPO) sales were estimated at 220,803 in December, up +7.9% MoM (from 204,619 in November) and +1.7% YoY, indicating stronger month-end momentum in the higher-quality segment.
- Total CPO sales for 2025 were 2.61M units, up +2.1% YoY, consistent with Cox’s expectation for full-year performance.
- Cox forecasts retail used-vehicle sales of 20.3M in 2026 (-0.7% vs 2025), with supply expected to remain constrained due to fewer lease maturities, although lease maturities are expected to rise later in the year.
- The 2026 CPO sales forecast is for a mild decline to roughly 2.6M, with fewer new sales limiting CPO inventory and “weaker buying conditions” cited as headwinds.
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U.S. retail used-vehicle sales rose +2.3% MoM and +1.9% YoY in November 2025 to 1.39 million units, reflecting steady demand amid rising inventory.
- A total of 1.39 million used vehicles were sold at retail in November, up +2.3% MoM and +1.9% YoY, indicating continued sales momentum across franchised and independent dealers.
- Days’ supply of used vehicles stood at 50, unchanged from October but up 2 days YoY, pointing to looser availability than a year ago as inventory builds.
- Used-vehicle inventory reached a new high for 2025 heading into December, alongside steady sales volumes, suggesting supply growth is outpacing turnover.
- Cox Automotive noted that easing prices and improving credit conditions are supporting demand, helping absorb higher inventory levels.
- Certified pre-owned (CPO) sales totaled 205,825 units, down -1.5% MoM and -1.8% YoY, marking a modest pullback from October levels.
- Despite the decline, CPO sales outperformed the new-vehicle market, where sales were down -4.3% YoY in November.
- Year-to-date CPO sales remain +2.3% higher than the same period last year, indicating continued strength over a longer horizon despite monthly softness.
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U.S. retail used-vehicle sales rose +3.4% MoM and +1.5% YoY in October to an estimated 1.40 million units, reflecting a modest rebound after September’s slowdown and suggesting buyers saw improved value and credit conditions.
- Days’ supply of used vehicles stood at 48, down 1 day from early October but up 1 day YoY, indicating slightly tighter availability than last month but broadly similar conditions to last year.
- Cox Automotive noted that October’s improvement followed September’s soft patch, with buyers responding to better credit access and the value gap between new and used vehicles.
- Certified pre-owned (CPO) sales rose +7.5% MoM to 208,948 units, showing stronger momentum than the broader used-vehicle segment.
- CPO sales were also +2.6% YoY, outpacing trends in the new-vehicle market and pointing to sustained demand for lower-mileage used vehicles.
- Year to date, CPO volumes are running +2.6% above last year, reinforcing steady consumer interest despite broader affordability pressures.
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U.S. retail used-vehicle sales declined -5.2% MoM to an estimated 1.42 million units in September 2025, but were up +6.6% YoY, reflecting seasonal softness amid persistent affordability pressures.
- Days’ supply of used vehicles rose to 48, up four days from early September and one day above the same period last year, indicating a modest buildup in inventory.
- Cox Automotive noted that used-vehicle sales fell more sharply than new-vehicle sales during the month, with affordability constraints cited as the main driver.
- Average used auto loan rates have climbed above 14%, as a higher share of subprime loans and modest rate increases offset the Federal Reserve’s recent policy easing.
- Certified pre-owned (CPO) sales dropped -19.4% MoM to 194,020 units but remained +6.7% higher YoY, mirroring trends in the broader new-vehicle market.
- Year to date, CPO sales are running +2.7% above the same period in 2024, suggesting continued underlying demand despite tighter consumer financing conditions.
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U.S. retail used-vehicle sales rose +4.9% MoM and +8.1% YoY in August 2025 to an estimated 1.55 million units, reflecting resilient consumer demand despite tighter supply.
- Days’ supply stood at 43, down 1 day from early August and 2 days lower than a year ago, indicating leaner inventory conditions.
- Certified pre-owned (CPO) sales increased +7% MoM to 238,659 units and were up +0.9% YoY, showing continued strength despite supply constraints.
- Year-to-date, CPO sales are running +2.6% above the same period in 2024, underscoring sustained buyer interest in certified vehicles.
- Cox Automotive highlighted that both MoM and YoY gains point to solid market momentum, even as dealers manage limited stock availability.
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Retail used-vehicle sales rose 8.9% MoM and 7.0% YoY in July 2025 to an estimated 1.52 million units, reflecting strong demand amid affordability pressures in the new-car market.
- Days’ supply declined to 43, down 4 days from early July and 2 days below the level a year earlier, indicating tighter inventory conditions.
- CPO sales increased 11.0% MoM to 222,991 units and were up 5.4% YoY, defying ongoing supply constraints.
- Year-to-date, CPO sales are running about 3% above the same period in 2024, suggesting sustained interest in certified vehicles.
- Cox Automotive noted that improving credit access and lower rates provided additional support to used-vehicle demand in July.
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Used-vehicle retail sales totaled 1.46 million in June, down -1.5% MoM but up 2.4% YoY, according to Cox Automotive’s vAuto Live Market View.
- Days’ supply of used vehicles held steady at 45, flat MoM but 2 days lower YoY.
- Certified pre-owned (CPO) sales dropped -13.1% MoM to 200,950 and were down -3.7% YoY.
- Fewer selling days and the absence of a holiday weekend contributed to the CPO sales decline.
- Year-to-date, CPO sales remain 2% above the same period last year.
- Cox noted the slowdown was seasonal and expected, with affordability concerns continuing to support used-vehicle demand.
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A total of 1.53 million used vehicles were sold at retail in May, flat MoM and up 4% YoY.
- Days’ supply of used vehicles was 43, down 1 day from early May and 2 days lower YoY.
- Certified pre-owned (CPO) sales dipped -0.5% MoM to 231,137 but were up 2.4% YoY.
- Year-to-date, CPO sales are running 3.5% higher than the same period last year.
- Cox Automotive noted the market remains stable with steady sales and modest price declines, supported by strong mainstream brand performance.
- Upcoming data may show sharp YoY changes due to base effects from last year’s cyberattack.
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A total of 1.57 million used vehicles were sold at retail – from both franchised and independent dealers – during April, down -3.6% MoM and up 11.6% YoY.
- Days’ supply of used vehicles in the most recent report was 43, two days higher than the upwardly revised level at the beginning of April.
- Certified pre-owned (CPO) sales decreased 5.9% month over month in April, according to data reviewed by Cox Automotive. CPO sales in April were up 11% year over year.
- Even with the month-over-month decrease, CPO sales were strong. April’s CPO sales are estimated at 232,267, down from the robust 246,803 in March. Year-to-date, CPO sales are running nearly 4% higher than the same period last year.
- Cox: “As the effects of the ‘spring bounce’ and initial pull ahead from tariffs diminished, sales saw a decrease in April. However, sales remain significantly higher than in recent years and are 12% higher compared to the previous year.”
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A total of 1.66 million used vehicles were sold at retail – from both franchised and independent dealers – during March, up 9.4% MoM and 12.2% YoY.
- Days’ supply of used vehicles in the most recent report was 39, four days lower than the upwardly revised level at the beginning of March.
- Certified pre-owned (CPO) sales jumped 21.2% MoM and 6.4% YoY in March.
- The increase is likely due to stronger new-vehicle sales in March, which helps lift trade-in supply. March’s CPO sales are estimated at 246,803, up from 231,927 in February.
- Cox Automotive: “March is historically the strongest month of the year for used-vehicle retail sales. This year, the combination of tax refunds and tariff talks pushed March sales to the highest level since 2021, with a significant double-digit increase over last year.”
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A total of 1.57 million used vehicles were sold at retail during February, up 16% MoM and 6% YoY.
- Days’ supply of used vehicles at the beginning of March was 42, down eight days from the beginning of February and down three days compared to last year.
- February’s CPO sales are estimated at 203,663, up from 203,071 in January, marking a 0.3% MoM increase.
- Volume rose just below 600 units last month but fell over 7,000 units from last year. CPO sales in February were down -3.4% YoY.
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US used vehicle retail sales volumes were up 8% YoY in January to 1.41 million.
- Certified pre-owned sales were only up 0.7% YoY after falling -6.4% MoM from December.
- Cox Automotive is forecasting retail used-vehicle sales in 2025 to reach 20.1 million, an increase of approximately 1.2% compared to 2024.
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