According to the latest vAuto Live Market View data, at the start of April, used-vehicle inventory levels declined month-over-month and compared to last year.
The total used-vehicle supply across U.S. franchised and independent dealers fell to 2.14 million vehicles, down from 2.18 million in March and a 1% decrease year-over-year.
Used retail sales climbed to 1.66 million vehicles in March, a 9% increase from February’s 1.52 million. While March typically sees strong demand due to tax refund season, 2025 marked the strongest March since 2021, up 12% year-over-year. As of April 15, the average tax refund was $3,116, a 3.5% year-over-year increase, and the total amount of refunded rose over 5%.
The days’ supply fell to 39 days at the start of April, down from March’s 43 days and five days from April 2024. This month’s supply is the lowest since 2021 and two days below 2019’s.
The average used-vehicle listing price rose slightly to $25,180 in March, which is up from February’s $25,011 but still down 1% year-over-year.
Affordability remains a significant pain point for consumers as the low-end market is constrained. The supply of vehicles priced at $15,000 or under tightened. There was only 28 days’ supply, seven days lower than last year and 11 days below the industry average.
The five top-selling brands, Ford, Chevrolet, Toyota, Honda, and Nissan, accounted for 51% of total used sales. These top sellers averaged a $23,778 listing price, 6% below the industry average.
