On the Dash:
- Used listing prices hold flat at $30,200 for a second straight month, according to CarGurus, still up 4.1% year-over-year.
- New listing prices climb to $51,400, up 4% year-over-year, as retail sales slip back below last year.
- EV listing views drop to 4.1% from an April peak of 5.5% as gas prices ease.
CarGurus‘ July intelligence report shows a market settling into a new “normal.” While used prices held flat for a second straight month, new prices kept climbing. Additionally, interest in EVs and hybrids, which surged all spring on high gas prices, is cooling off.
According to the report, used inventory per dealer hit its highest level in years in July, up 5.6% year-over-year. Franchise dealers also did most of the rebuilding, adding back 2- and 3-year-old vehicles that have been hard to source since the chip shortage.
Used prices hold steady
The average used listing price has sat at $30,200 since May, though it remains 4.1% above last July. Pricing mix played a role, with listings under $20,000 continuing to lose share while the $30,000-and-up segment gains ground.
That plateau tracks with CarGurus’ Mid-Year 2026 report, which showed the price gap between new and used vehicles widening from about $13,000 in 2015 to $21,000 today, pushing more shoppers priced out of new into the used market.
Demand held up despite the higher prices, running 3.7% above last July. The average used vehicle is also moving faster, spending 68 days on the lot compared to a year ago.
New prices keep climbing
Average new listing prices reached $51,400 in July, up 4% year-over-year. Pricing mix and the arrival of 2027 models both contributed. Vehicles under $30,000 fell to 10.7% of new inventory from 13.4% a year ago, and nearly one in ten new vehicles on the lot now carries a sticker price of $80,000 or more.
Retail sales slipped back below year-ago levels after two months of growth. That same CarGurus report flagged this trend back in June, noting that new-vehicle sales have failed to keep pace with population growth, with the U.S. selling 16.3 million new vehicles in 2025, down from 17.3 million in 2000.
Affordability pressure is showing up in the numbers underneath the top-line figures. Vehicles priced above $80,000 are carrying more than 90 days of supply, while units under $30,000 sit at 56 days. The affordable end of the market still sells fastest relative to what’s available. There’s just less of it to sell.
EV and hybrid interest cooling
The EV and hybrid interest CarGurus tracked all spring was largely tied to gas prices. That interest faded some as gas prices eased in July. New EV share of listing views dropped to 4.1%, down from a peak of 5.5% in April. Hybrid views eased alongside them, though hybrids still draw roughly three times the interest EVs do on the new side.
Meanwhile, used EV and hybrid views held steady, while sales grew for both. New EV sales remain well below where they ran before the federal tax credit expired.
For dealers, the second half of 2026 likely rewards those who can source more affordable inventory on both sides of the lot, since that’s the segment moving fastest and shrinking at the same time. The fading interest in EVs and hybrids also signals that gas prices, not policy or product improvements, remain the real driver of clean powertrain demand.
