Overview
Retail used-vehicle sales rose in November as inventory continued to build, reaching a new 2025 high heading into December, according to Cox Automotive. Steady demand, easing prices, and improving credit conditions are drawing more buyers into the used market.
Key November Figures
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Retail used sales: 1.39 million vehicles (+2.3% month over month, +1.9% year over year)
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Days’ supply: 50 (flat vs. October; up two days year over year)
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CPO sales: 205,825 vehicles (−1.5% month over month; −1.8% year over year); year to date through November: +2.3% vs. the same period in 2024
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New-vehicle market: −4.3% year over year in November (totals not provided)
Inventory and Sales Dynamics
With days’ supply at 50, dealers had roughly seven weeks of used inventory at the current sales pace. Inventory levels are higher than a year ago and flat month to month, indicating broader selection and more price points for shoppers despite elevated interest rates.
CPO Versus Broader Market
Certified pre-owned volumes dipped modestly in November even as overall retail used sales increased. This divergence suggests buyers are seeking value across a wider range of price points, while CPO performance continues to be influenced by off-lease returns, trade-ins, and incentives at franchised dealerships.
How the Estimates Are Built
Cox Automotive’s retail estimates are derived from vAuto’s Live Market View, which tracks vehicles as they enter and exit dealer inventory on a rolling 30‑day basis. Historical figures are aligned to this approach, and data affected by the 2024 CDK outage have been normalized to preserve year-over-year comparability.
Context and Implications
The late-fall uptick in sales (+2.3% month over month) aligns with typical seasonal influences and year-end dealership activity. The combination of higher inventory, steady sales pace, and easing prices points to improved affordability and a healthier balance between supply and demand as the market enters December.
Scope Notes
The 1.39 million figure reflects retail transactions across franchised and independent dealers. It excludes wholesale auction activity—where many vehicles are sourced—and private-party sales. More granular regional or segment details are typically provided in Cox Automotive’s quarterly or annual updates.
