On the Dash:
- Used-vehicle listing prices averaged $27,239 in August, the highest monthly figure since December 2022.
- Inventory slipped 1.1% from July to 2.13 million units, tightening days’ supply to 44.
- Supply of vehicles under $15,000 fell 25.9% year over year to 15.1% of inventory.
Used-vehicle listing prices hit their highest monthly average since 2022 in August, landing at $27,239. That’s according to Cox Automotive, based on the company’s analysis of its vAuto Live Market View data.
The average climbed 0.9% from a revised $26,999 in July. It also ran 7% above the same month a year ago. August prices normally hold flat or ease off the July reading, making the increase a break from seasonal form.
Used-vehicle prices cross $27,000
August was the second month of 2026 with an average listing price above $27,000. June’s revised figure of $27,010 was the first, and the revised July number finished just under the mark. The last time the monthly average ran this high was December 2022. No month since has matched it.
Used vehicles’ relative value compared with new models is helping support demand, the report says. Credit access improved in August as well, even with borrowing costs rising, based on the Dealertrack Credit Availability Index.
Inventory slips while the sales pace picks up
Franchised and independent dealers held 2.13 million used vehicles on their lots in August. That total was up 1.3% year over year and down 1.1% from July. While supply remains modestly above year-ago levels but below 2023 and 2024 volumes for the month, it trails the roughly 2.42 million units sitting on dealer lots in August 2022.
The retail used-vehicle sales pace fell 3.2% year over year while rising 3.9% from July. Total retail used sales volume is estimated at 1.50 million. The monthly gain tracked normal seasonal patterns, since the pace typically steps up from July to August.
Notably, days’ supply landed at 44 in August, two days above last year, which was down from a revised 46 in July. Inventory also fell while the sales pace rose, tightening supply by two days. Ford, Chevrolet, Toyota, Honda and Nissan again ranked as the top-selling used-vehicle brands. The five accounted for roughly half of all retail used-vehicle sales, unchanged from July.
Budget shoppers face the tightest supply on the lot
Used vehicles priced below $15,000 carried just 29 days’ supply in August. That is 15 days under the industry average. Additionally, inventory in that price band fell 25.9% year over year, which now makes up 15.1% of all used-vehicle inventory, down from 20.6% a year ago.
Meanwhile, certified pre-owned (CPO) sales reached an estimated 227,432 units in August, up from 222,400 in July, a 2.3% monthly increase. CPO share of total used-vehicle retail sales was 15.2% for the month, down from a revised 15.4% in July.
