On the Dash:
- The average used vehicle listing price climbed to $27,235 in September, the highest level since late 2022, according to Cox Automotive data.
- Used-car supply increased to 49 days, up five days from August, potentially easing upward pressure on prices as the fall selling season continues.
- Vehicles priced at $15,000 or less remain in short supply, with dealers holding just 34 days of inventory, while certified pre-owned sales rose 10% year over year.
According to Cox Automotive, the parent company of Kelley Blue Book, the average used-vehicle listing price reached $27,235 in September, the highest monthly average since December 2022. The figure rose only slightly from August and climbed nearly 6% from a year ago. Even so, prices may not climb sharply through the fall as dealer inventory improves.
Dealers ended September with an average 49-day supply of used vehicles, five days more than in August. That longer supply could help moderate price increases as inventory and demand adjust.
At the low end of the market, however, dealers held only a 34-day supply of used vehicles listed at $15,000 or less, 15 days below the industry average. That limited availability in lower price brackets continues to constrain options for budget-conscious shoppers. Meanwhile, Ford, Chevrolet, Toyota, Honda and Nissan remained the top-selling used-vehicle brands, together accounting for more than 49% of retail used-vehicle sales.
Meanwhile, certified pre-owned (CPO) vehicle sales rose 10% year over year in September, though they fell 6% from August. While CPO vehicles offer buyers warranty coverage and an alternative to new vehicles, especially as automakers produce fewer affordable new models, the year-over-year gain points to continued demand for certified used vehicles, even as sales cooled from August.
