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.