Average used vehicle listing prices rose for the third consecutive month in May, reaching $26,918, the very best since mid-2023 and up 6% yr over yr, in keeping with Cox Automotive’s evaluation of vAuto Live Market View data released June 12.
Meanwhile, used-vehicle inventory increased in May because the retail sales pace slowed.
While list prices increased across all segments, age groups, and price tiers, the general increase was driven primarily by a shift in what was selling. Each vehicle inventory and sales priced under $20,000 declined in April, while sales of higher-priced units grew. Near-new SUVs are posting the most important gains.
The highest five sellers of the month had a median price of $25,043, about 7% below the typical listing price for all used vehicles sold.
The upper prices at used retail straight away reflect strong wholesale values earlier within the spring, particularly for older, cheaper vehicles. Auction prices – a very important source of used-vehicle inventory – ran well above year-ago levels earlier in 2026 and have held, carrying through to retail and helping explain the sustained gains.
Price-conscious buyers proceed to face limited options within the used-vehicle market, with inventory within the lowest-priced segments remaining scarce. Vehicles priced under $15,000 carried 33 days’ supply in May, 12 days below the general market average of 45.
Used Vehicles Supply and Sales
Combined franchised and independent auto dealers had a complete supply of two.12 million used vehicles on their lots in May. Volume is down 0.6% from a yr ago but up 4% from April. Despite the monthly gain, used-vehicle inventory stays tight by recent historical standards.
The retail used-vehicle sales pace slowed in May, down 3.9% from a yr ago and a pair of% from April. Total retail volume is estimated at 1.45 million. Growing economic pressures and rising vehicle prices likely weighed on demand.
At the identical time, improving credit availability, which reached its highest level since April 2022, and the continued value proposition of used vehicles relative to latest vehicles likely offset the impact. Ford, Chevrolet, Toyota, Honda, and Nissan were the top-selling brands again in May, accounting for nearly 50% of all used vehicles sold.
Recent-vehicle sales in May were up greater than 7% yr over yr in May, in keeping with Kelley Blue Book estimates, a notable divergence between the 2 markets.
The Cox Automotive days’ supply relies on the estimated day by day retail sales pace for probably the most recent month. Days’ supply of used vehicles in May was 45, up 1 day yr over yr and up 2 days from the revised April measure of 43. In comparison with April, inventory volume was up 4%, while the sales pace decreased by 2%, leading to a 6.1% increase in days’ supply.
CPO Sales in May
Certified pre-owned (CPO) sales decreased 0.9% yr over yr in May, in keeping with data reviewed by Cox Automotive. CPO sales in May were up 6.1% month over month. May CPO sales are estimated at 228,521, up from 215,354 in April. CPO share of total used-vehicle retail sales was 15.7% in May, up from 15.0% in April. 12 months-to-date, CPO sales are running roughly 3.3% below the identical period last yr.
This Article First Appeared At www.automotive-fleet.com
