On the Dash:
- Used-vehicle sales rose 9% in July, up 7% year over year.
- CPO sales jumped 11% in July, up 5% year over year.
- New-car affordability and easier credit are fueling used demand.
Retail used-vehicle sales rose sharply in July, reaching 1.52 million units sold across franchised and independent dealers, according to Cox Automotive’s vAuto Live Market View data. The total marked an 8.9% increase from June and a 7% gain compared with July 2024, underscoring steady consumer demand in a competitive market.
The stronger sales pace came even as used-vehicle supply tightened. Days’ supply fell to 43 by the end of July, down four days from the start of the month and two days lower than the same time a year earlier. Analysts point to affordability challenges in the new-car market, coupled with easing credit rates and improved credit access, as key drivers pushing more buyers toward used options.
Certified pre-owned (CPO) vehicles also posted notable gains. Sales climbed 11% from June and 5.4% year over year, totaling nearly 223,000 units in July. Year-to-date CPO sales are running about 3% higher than the same period in 2024, an impressive result given the ongoing shortage of qualifying inventory. Industry observers suggest that increased conversions of older, low-mileage vehicles into CPO programs may be fueling the growth.
The momentum in both used and CPO markets highlights consumer confidence despite broader affordability concerns. The latest data reflects not only strong summer sales activity but also a structural shift in buying behavior, as many shoppers seek alternatives to higher-priced new models.
